Market analyst Clayton Pope takes issue with the contention that current higher soybean prices are demand driven. Pope concedes that USDA’s 75-million-bushel jump in soybean exports is significant for the market, but he says the August to November soybean supply dropped 346 million bushels.
“Calling this a demand market is a little bit of a misnomer, it seems like to me,” said Pope, speaking at the recent National Association of Farm Broadcasting virtual convention.
