Potential Danger for Beans in Jan. 12 USDA Reports

January 3, 2018 04:04 PM

“The risk is that USDA cuts the soybean export estimate and raises old-crop soybean carryover in the January 12 (Supply & Demand) report,” says Allendale, Inc., President Steve Georgy. Talking with AgriTalk After the Bell host Chip Flory, Georgy said, “Last year in this report, we had a big increase in the export number and a big cut to carryover… it looks like this year could be just the opposite because we are well off the pace we need to get to USDA’s current export estimate.” To counter the risk, Georgy says producers should talk with their risk-management advisors and consider some hedge coverage in new-crop soybean futures ahead of the report.

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