China is expecting soy meal demand to increase between 7 to 8 percent for soybean meal this year, according to Sue Martin, president of Ag and Investment Services. She said corn demand is also increasing, but demand runs allusive.
She told U.S. Farm Report host Tyne Morgan demand is going to be “phenomenal,” but the market is going to go down.
“I think we [are going to] put a low in April,” she said. “I think they’ll be another low coming in August.”
Ahead of the USDA Prospective Plantings report due out Friday, Don Roose, founder of U.S. Commodities, Inc., thinks U.S. producers have been preoccupied about the acreage mix because there hasn’t been anything else to catch their attention.
“We don’t have any real weather problems here in the U.S.,” said Roose. “It’s too early so we’re focused on the acres.”
Watch Martin and Roose comment on South America and demand on U.S. Farm Report above.