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.
October 30, 2024 03:52 PM
The German company Constellr is part of the John Deere Start-Up Collaborator Program in 2024. It plans to launch a geothermal satellite next year that will give farmers and ranchers better tools to monitor surface temperature from space.
October 21, 2024 11:51 AM
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Meet FarmHER Debra Lockard, a third-generation Tennessee produce grower who splits her time running two farms in West Tennessee and teaching ag classes that promote sustainable farming practices in her Memphis community.
September 26, 2024 05:55 PM
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FarmHER Kate Hitchcock joined us on the Market Day Report to discuss the upcoming episode of the show where Kirbe and the crew visit her family’s produce operation in California’s Salinas Valley, which premieres tomorrow, Sept. 24 at 9 PM ET only on RFD-TV.
September 23, 2024 02:01 PM
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The FarmHER crew catches up with fifth-generation California sweet baby broccoli producer Kate Hitchcock and her team in the middle of the harvest season in the Salinas Valley.
September 18, 2024 12:05 PM
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Kentucky Flower FarmHER Janet Dennison’s retirement project flourished into a thriving business, Mammoth Cave Transplants, in Kentucky. Learn about it and the beautiful ornamental plants she grows in this new episode of FarmHER.
September 12, 2024 04:49 PM
