Economists are keeping a close eye on the soy market in the coming days. They say all of the back and forth with China has put demand on shaky ground.
“They’re doing all they can to go elsewhere. And we’ve got a rapid expansion going on in the world of soybean crushing, in skiing terms, we might be getting out over our skis, in terms of how much soybean oil we hope to produce relative to the mandates and tax credits that are boosting soy oil demand for renewable diesel,” said Ed Usset with University of Minnesota.
Usset wars it could be a tough couple of years for the soyb complex as they work out rebuilding demand.
Some traders are trying to look on the bright side. Frequent Market Day Report guest Brian Hoops says it all needs to be taken in context.
“Corn really isn’t, probably won’t be, affected by these tariffs all that much because only 15% of our crop is exported, and a lot of that goes to Mexico and will most likely reach an agreement with them. It’s soybeans, which we saw on Friday’s sharp losses, that could be impacted by these tariffs because over 40% of our soybean crop is exported, so subject to tariffs in one form or another.”
Hoops says h is hopeful other countries come to agreements with the U.S. in the coming weeks.
Rising protein demand supports long-term trade in feed and meat.
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Tennessee Ag in focus: Commissioner Holt shares his farm economy outlook, the TNFB honors a cotton legacy, and TN 4-H and FFA leaders discuss support for the next generation of agriculture in Tennessee.
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Farm Bureau economist Dr. Faith Parum explains how geopolitical dynamics in the Middle East could further tighten fertilizer movement, increase fuel costs, and complicate planting decisions for U.S. farmers this spring.
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