Markets - General
On soybeans, Jerry Gulke says the 25 million bushel increase in carryout can easily be wiped out with the current weather issues potential cuts to South American production, plus increased export demand.
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USDA upped its corn yield estimate by nearly 2 bu. to a 174.9 bu. per acre national yield. The agency also increased its demand estimate, which softened the potential blow of such a big jump in production.
The strong close in soybeans reflects concerns about South American weather. If South American production drops 100 million bushels that makes U.S. ending stocks at 220 million bushels look tight, says Jerry Gulke.
Whether you’re in the middle of harvest, or already wrapped up, there are five common grain marketing mistakes farmers often make. University of Minnesota’s Ed Usset says these mistakes happen throughout the year.
Jon Scheve discusses why corn prices might continue to go down for the next few months while soybean prices could have upside potential.
Corn and soybean prices seem stuck. So, what catalyst could it take to move commodity prices higher? There are a few, but analysts say the reality is there’s simply no story at the moment.
This week’s price action in soybeans and soybean meal has many wondering if a South American weather market is starting early. Even China is taking notice.
The real question is: Should farmers wait for a more significant rally? Jerry Gulke says look at the carry in the market because it narrowed this week and determine if you can afford to pay commercial storage.
Weather in Brazil is as big of a market mover as forecasts in the U.S. Why has Brazil grown so aggressively? One economist recently spent six months in Brazil and says a combination of factors is aiding their growth.
Soybean demand makes the market more receptive to a postharvest rally if production trends lower into January. Corn exports are behind last year’s pace, and importers are turning to Brazil’s corn.