Market Analysis

Market analysts think soybeans will see a price rally before corn, and farmers should have a strategy in place.

Many soybean producers say they get their best yields when they get the crop in the ground early, but that wasn’t the case this year. Pete Meyer of S&P Global says now farmers are seeing those ramifications.

As a new month begins, there’s new things to watch.

U.S. soybean production is projected at a record 3.390 billion bushels, up 375 million from the drought-reduced 2012 crop.

Soybean prices are weak and likely to get even weaker.

The Pro Farmer Crop Tour found some fields with pod counts 20% above last year, and reports a 44.9-bu. national yield, versus USDA’s 44 bu.

After the USDA released its World Agricultural Supply and Demand Estimates (WASDE) Thursday, corn and soybeans took the lead story away from wheat. Ending stocks for wheat for 2017/18 have been lowered 25 million bushels, the report citing increased exports as the cause.

Wheat acres in the U.S. in 2017 were at lows not seen for a century. Going into 2018, it looks like that could be the case as well with farmers planting less wheat.

In 2017, wheat acres hit a 108-year low, and they’ll be fewer acres in 2018.

Wheat growers have had a rough go the last couple of years with low prices and the least amount of acres planted in nearly a century.