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Soybeans appear stuck between $12 and $14 a bushel as diesel costs rise, Mike McGlone notes

Soybeans appear stuck between $12 and $14 a bushel as diesel costs rise, Mike McGlone notes
Soybeans see $12 to $14 price band

Mike McGlone suggests that soybeans could remain confined within a range of $12 to $14 per bushel, citing strong market drivers.

According to McGlone, elevated diesel prices have played a significant role in pushing soybean prices into higher territory and may continue to be a key factor maintaining the current price band.

McGlone recently compared gold’s first-quarter peak near $5,600 an ounce to crude oil’s 2008 rally, noting the influence of strong commodity trends in both cases here. He has also discussed how central bank rate hikes responding to high energy costs could result in deflation across metals markets here. His recent observations on soybeans continue a focus on the intersection of energy prices and commodities.

This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.

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