Soybean futures prices surged to $12

Soybean futures prices surged to $12.25 amid renewed concerns over drought conditions in Argentina. The market’s open interest rose notably, reflecting growing speculative participation. Tit-for-tat tariffs that Washington and Beijing imposed on each other's goods this year have made U.S. soybeans too expensive for Chinese buyers, leading importers to buy from South America instead. Control a larger notional value for a relatively small amount of money, enhancing your buying power. Traders are watching weather patterns in the Midwest, as rainfall could improve yield forecasts and pressure prices lower.