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Soybean prices are at profitable levels for farmers, but a Virginia Farm Bureau grain manager said the question is whether they will hold. He named the size of the Brazilian crop, final U.S. yield numbers and demand strength as the key drivers.
Brazil has just begun planting and is expected to plant almost 100 million acres.
Brazil's planting and final U.S. yields will set soybean supply expectations for the next 90 days. Strong demand against tighter old-crop supplies supports prices, but a large Brazilian crop would pressure them.
farmprogress.comJohn HartOct 22, 2021Not 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.
