There has been a lot of discussion in the news lately about Soybeans so naturally I decided to take a look at them.
It looks to me like it could be a buying opportunity, First of all, haven fallen by roughly -10% since late May and they are very oversold. Second, the last time that they traded down to these levels from September 2015 through February 2016, a huge rally followed. Third, they are well off of their lows of last week and starting to rally,
The economics are very clear here. With prices this low, farmers grow less soybeans. With there being less soybeans on the market, prices will rise. I even heard some farmers on the news discussing how they will be allocating less of their land to soybeans and growing other things.
If you don't trade the futures markets and like to trade equities, there is a Soybean ETF...the symbol is SOYB and the short term chart is shown below.