Large financial speculators in the futures market are holding a massive bullish position in soybeans, signaling a strong consensus that the commodity’s price will continue to rise—a scenario that could lead to record-high export revenues for Brazil, the world’s leading exporter. Non-commercial traders, often referred to as large speculators, held 216,046 long contracts compared to just 38,183 short contracts, translating to a net-long position of 177,863 contracts in the latest data on the Chicago Board of Trade.