LINCOLN, Neb. (RFD-TV News) — Soybean crushers are looking for more supplies as weather slows harvest across parts of the Midwest.
Heather Ramsey with Agricultural Risk Consulting Group says some facilities are having a difficult time securing enough soybeans to operate at full capacity.
“I do know that we had quite a few crushers, when you look at Nebraska, Iowa, South Dakota, even as far down into some of that northeastern Kansas, northwestern Missouri area that had gone no-bid on meal, which is a good sign that either everything they have produced has already been sold, or they’re not producing enough to have a bid to sell more, which probably means they’re having a hard time either running at full capacity or getting enough input product, so soybeans themselves, and to run at full capacity, which definitely have been confirmed.”
In Iowa, wet weather has pushed soybean harvest well behind schedule, leading some processors to bring in beans by rail or pay more for available local supplies. The tight market has created unusually strong basis opportunities for farmers able to deliver now.
Analysts say the pressure should ease as drier weather gets more combines back into the field.
