Soybeans might see a fall low for prices this year, whereas corn is a different story, says Sue Martin, Ag & Investment Services.
“I think we’re looking at a market that is percolating,” Martin tells Tyne Morgan on the “AgDay” Agribusiness Update segment. “Does the soybean market have its lows in? It might. I still am vulnerable to think that we may have a fall low this year in soybeans, but corn, I think the low is in.”
Some speculate wet conditions and planting struggles in the eastern Corn Belt could hurt soybean yields, though Martin has a somewhat different take.
“I think that we’ll still end up with a soybean yield that’ll be still above the trendline yield, but it’s less acres,” Martin explains. “We still have to realize that comes back to the carryout and what we have left to deal with.”
Weather will continue to be a major factor heading into peak growing season.
“When we start getting the crop condition ratings, more so as we get toward August, all of a sudden it isn’t the acres we’re looking at, it’s the crop that’s actually planted and out there,” Martin says. “All of a sudden, they’ll start rating that crop. I think that’s when we start to hear, well, the crop is doing good, and if you aren’t feeding it with a lot of heat, I think that’s going to end up being a good thing. Now one thing, though: The crop is late in blooming. It’s very late, and so that’s the one concern we do have.”
Click the play button below to watch the complete interview with Martin.