An article from Bloomberg over the weekend (click here) about the potential long-term impact of African swine fever (ASF) on world soybean demand didn’t seem to have much negative effect on the soy complex today. That isn’t necessarily surprising, though, since prices have remained relatively steady even though all the soybean news has been almost entirely bearish. Consider the following:

U.S. and world soybean supplies are at record-high levels and might get bigger. It has been a year since the China-U.S. trade skirmish started, and there is still no agreement despite the news every day that one is near. The cold, wet spring across the northern Plains and Corn Belt will likely mean more soybeans will be planted than indic...