Soybean futures
Soybeans have been on a strong rip higher recently. This has been due to the following reasons. Food prices are feeling inflationary pressures, supply levels have been tightening partly due to China absorbing cargoes to meet their trade-deal obligations, and adverse weather with the anticipated arrival for the coming La Nina weather pattern to only make this situation worse. See the post I did earlier on this here.
Well another potential factor to support US Soybeans is that US farmers may benefit from the end of Trump tensions and US protectionist policy. If you look at the chart below you can see that trade war actions pushed down the Soy trade from the US. A Biden victory should mean the end to America's recent protectionist polices under President Trump and open up the trade channels once again.
Will this mean Soybean futures are buy on the dips into the US elections as long as Biden is ahead in the polls?
