Soybean price puzzle

Soybean price puzzle

soy puzzle

Trying to build price scenarios for the soybean complex based on the fundamental structure seems like an exercise in futility at times. Arguably, the +/- 900 million bushel carryout and the accompanying stocks/use ratio suggest the average price paid to farmers this year should be closer to $7.

But yet, the last monthly data point for the series that makes up...

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