On June 21, CCB Futures stated that the USDA’s previous yield estimate of 52 bushels per acre was based on good weather conditions during the US soybean growing season. However, the current drought problem has gradually expanded, and even the two largest major producing states Two-thirds of the soybeans in Illinois and Iowa are facing drought, and more than 51% of the overall US soybean area is dry. However, judging from the weather forecast for the next two weeks, the rainfall has not improved, resulting in the previous over Falling U.S. soybeans soared.
Judging from the time window of the weather theme and the emotional aspect, the current rise in U.S. soybeans still seems to have a certain degree of continuity. The rise in U.S. soybeans will eventually lead to greater motivation for Brazil to expand planting. The mid-to-long term price center of gravity is downward. No change, and now is not the time to enter the market with empty orders in terms of rhythm.
