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Why there may be no more beans in soy: Hansen

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May 11, 2016 agricultural commodities, agriculture, beans, commodities, corn, drought, ole hansen, saxo bank, saxo tv, saxotv, soy beans, soyabeans, soybeans, tradingfloor.com, tradingfloorcom, us, usda, wheat
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.