Can soybean prices rise in July and August 2003?
Yes According to relevant data, the soybean market has been rising continuously since August 2003. Chicago Board of Trade (CBOT) soybean futures price is above 1000 cents/bushel, which is the highest point of 15, and CBOT soybean powder futures price is also the highest point in eight years. The futures prices of soybeans and soybean meal on China Dalian Commodity Exchange also hit a record high. Soybean futures price is close to 4000 yuan/ton, and soybean meal price is around 3600 yuan/ton. In July and August of 2003, the price of soybean will go up. Soybean is an important food and oil crop for human beings, and cultivated soybean is native to China. It is generally believed that wild soybean is a close relative of cultivated soybean, and soybean is improved and domesticated on the basis of wild soybean.