U.S. demand estimates are left largely unchanged. As the ag sector reviews the latest WASDE numbers, we turn our attention to the highlights for soy.
United Soybean Board VP of Market Intelligence, Mac Marshall speaks with RFD-TV’s own Janet Adkison on what stands out to him and what the projections mean for soybean farmers.
“Right now, we’re coming to the tailend of the March contract... so we have to look ahead of the curve and look at some of the futures that are deferred... We’ve got that narrowing spread between new crop beans and old crop beans... between August and September, and I think that’s really reflective of a strong pricing environment that farmers are pricing into because we’ve got tight overall balance sheets, tight supply, but again this is against a backdrop of really, really strong demand... and the U.S. remains well-positioned to capitalize upon that,” Marshall explains.
For more information from the United Soybean Board, click HERE
For more information from the U.S. Soybean Export Council, click HERE
Related:
Market Specialist Marlin Bohling breaks down the latest WASDE report