Record High Yield for Soybeans

Rick Worthington

The USDA is expecting a record yield for soybeans.

Soybean futures have responded positively the last three times that the U.S. Department of Agriculture published a major report.

Cindy Nickerson with the USDA says, soy is a good bet right now.

Experts say, soy buyers and traders have seen a fairly dramatic movement in price over a relatively short period of time.

Global supplies of soybeans are about to get even tighter, with the development of a La Niña climate pattern potentially leading to lower production.

Lower soybean production may provide a further boost for prices which have already risen significantly recently on growing demand from China and prices rising to their highest levels in over two years.