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A Minnesota farmer and United Soybean Board member says demand for US soybeans is growing. He estimates that 10 to 12 million more soybean acres may be needed within five years, drawn from corn or wheat.
He says livestock, trade and biofuels set soybean prices and that meal demand is strong.
Rising demand projections from livestock, exports and biofuels support soybean prices and could shift planting toward soybeans. Strong meal demand also supports crush margins.
farmprogress.comKevin SchulzDec 19, 2023Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
