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Why there may be no more beans in soy: Hansen
Soybean prices have surged after the US Department of Agriculture cut its stock estimates for 2016-17. But Saxo Bank’s Ole Hansen says the rally may trigger profit-taking and therefore be short-lived.
The USDA estimates came in about 25% lower than the market expected, but Hansen says the US would have to see drought for the numbers to become a reality.
Hansen also looks at what is happening with corn and wheat prices, which rose together with soybeans.
01:32 minutes
Tags: agricultural commodities, agriculture, beans, commodities, corn, drought, ole hansen, saxo bank, saxo tv, saxotv, soy beans, soyabeans, soybeans, tradingfloor.com, tradingfloorcom, us, usda, wheat
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