Look out for production in Argentina, Brazil and China because
Soy is the cheapest crop to plant, as opposed to corn or wheat, and the credit crunch is still alive and well in the agricultural sector.
The rains are back. Weather forecasters expect El Nino to drop much-needed rain all over Argentina's growing regions by November, right in time for planting.
Farmers in South America know that the less-than-exceptional U.S. harvest means that all eyes will turn to Argentina and Brazil for their soybean supply. [1]
As a growing number of products use soy for quality or environmental reasons, there will be more aggregate soybean demand. Because the amount of soybeans produced is bounded by the amount of land available, demand will increase faster than supply. This will cause prices of soybeans to increase.