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| and it stems from China
In late 2022 China had a sow heard of 44 million head it is in the process of getting it down to 37million head via a government doctrine, the reason for this government mandated reduction is that China is just now coming to the realization that their population is upto 300 million less people than they believed just 18 months ago. the one problem they have though is that they have a crushing capacity of soybeans well above what they need and they are NOW dumping that soybean products on to the world market at prices that nobody seems to be willing to match at this point.
When meal and oil find a bottom soybeans might also, that might be a ways off (hopefully not) while everybody in farm country kept trying to highlite production the funds kept looking at demand which is why they have never felt threatened by their short position. | |
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Beans have a product Problem
