Dear Friend,Hello and welcome. Thank you for using Just Answer.
To answer your question, apart from local supply factor, I would suggest you to also consider historical price charts while predicting Soybeans prices.
Soybeans prices have seen a sharp up move recently as the prices have risen from $1280 to almost $1500+ in last month and a half or little more than that.
Having said this, Soybeans prices have a still resistance near $1550 levels. The most likelihood is that it can move upto levels and then either correct or consolidate.
To conclude, the maximum upside I see in Soybean prices is up to $1550 in immediate short term. Ref: http://www.nasdaq.com/markets/soybean.aspx?timeframe=3y
I am sure this would help.You may please leave a positive rating if this helps as that is the only way we receive credit for assisting you. Alternatively feel absolutely free to revert with more queries if you have.Warm Regards
Are you there ? Is there anything more I can help you with ?
Thank you. Looks like they have been in an upward channel looking at the 3 year chart. Looks like something above 15.00 per bushel would be a good sales price. I thank you very much for your thoughts and the reference.