Going Nowhere Fast

Shortly before sending the comments last month, the May soybean contract had closed down the 70-cent daily trading limit. This was due to the announcement that President Trump and President Xi’s expected meeting had been delayed until May. The details and timeline of that meeting seem to still be ‘up in the air’ due to the Iranian conflict. Nonetheless, over the last 30 days the front-month of the soybean market has had a relatively small trading range. Outside of one day the SK contract has had