Following severe flodding in the Midwest, a pile of 650,000 bushels of soybeans in rural Missouri spontaneously combusted and have been burning for a month.
Al Kluis, managing director of Kluis Commodity Advisors, thinks traders won’t see the soybean market turn until there are real orders and action taken.
The overall deficit getting bigger isn’t necessarily a bad thing, said Dan Ikenson, director of the Herbert A. Stiefel Center for Trade Policy Studies at the Cato Institute.