Short Position - Rising Soybean prices; no respite for TNB

Rising soybean prices

SOYBEAN prices have been rather steady since 2018, something which is unprecedented. The crop was trading closer to US$1,800 levels in 2012-2013 before gradually sliding down to US$850 levels since 2018, indicating a fair level of volatility

In the last few weeks, soybean prices are active again. They surpassed the US$1,000 levels and are now close to a three-year high. The rise has promoted some to comment that soybean, which is the torch-bearer of the oil seed market, is on a bullish run.Whether the crop goes back to its dizzying heights that were seen in 2012 and 2013 will depend on China and its unending thirst for commodities.