Unexpected: soybean markets are optimistic while conditions problematic
The upper Midwest saw freezing temperatures this weekend, and it could force some farmers to replant their soybeans.
We are seeing evidence that some corn crops may be affected as well. A University of Minnesota Extension agent says that replanting could mean a 10-15 percent yield hit.
Spiking the new seeds in to supplement rather than ripping the field apart has proven to be successful. Agents also recommend checking on seed and herbicide availability, as supply chains continue to be under stress.
Between the global pandemic, trade disruptions, and little momentum in the renewable fuel sector, the Iowa Soybean Association says that the current market was unexpected, to say the least.