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Todd Hubbs of the University of Illinois forecasts that US farmers will plant more soybeans in 2017 than usual. He projects the 2017/18 average farm soybean price will fall to $9.10 from $8.90, due to increased acreage and ending stocks.
He says a bad US crop or stronger-than-expected exports could offset the decline.
Expanded acreage and higher ending stocks point to lower soybean prices, though weather or stronger exports could limit the drop. The forecast is high-level and depends on the rest of the growing season.
morningagclips.comFeb 13, 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.
