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A grain analyst advises farmers to consider selling old-crop soybeans above $10 a bushel and to price new-crop beans cautiously. The analyst cites a USDA cut to Argentina's soybean crop estimate and recent Mato Grosso rains that could reduce Brazil's output.
Some analysts expect a shift to more soybean acres ahead of the USDA Prospective Plantings report on March 31.
Lower South American production estimates support soybean prices, while expected acreage shifts could cap later gains. The advice reflects a trading range with support from supply concerns.
brownfieldagnews.comNicole HeslipFeb 14, 2017Not 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.
