LOWER-THAN-EXPECTED USDA ACREAGE FORECAST DRIVES NEARBY SOYBEAN OIL FUTURES BACK ABOVE THE 30-CENT LEVEL

Soybean futures rallied about one percent on Thursday, supported by a United States Department of Agriculture (USDA) forecast for 2019 soybean acreage of 85 million acres, which was down 4.2 million acres from 89.2 million in 2018. The forecast was 2.5 million acres above The Jacobsen’s expectation, but, if…