While corn saw a big boost in this month’s WASDE report, soybeans are looking at the lowest acres in several years.
Market analyst Brian Hoops explains why.
“On the flip side, because we planted more corn acres, you had less soybean acres planted; the smallest soybean acres since 2019. Even though you had a new record yield for soybeans, the smaller harvested acres took away over 150 million bushels of supply, a pretty sizable amount, and we pushed sharply higher. Now the question is, where do we go from here?”
A social media post this week by President Trump sent waves through the soybean market. He urged China to return to the buying table, but it is a move many analysts feel is unlikely to happen.
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Trump’s upcoming talks raise hopes for U.S. soybeans, but China’s record purchases from Brazil and Argentina show America’s market share remains under heavy pressure.
Farmers face tighter barge capacity and higher freight costs during peak harvest.
Bigger-than-expected corn and wheat stocks are bearish for prices, while soybean figures were neutral. Farmers may face additional price pressure as harvest accelerates.
“MAKE SOYBEANS, AND OTHER ROW CROPS, GREAT AGAIN!”
“American soybean farmers—who are already reeling from your sweeping tariffs—deserve better.”
Farmers will need to closely monitor forecasts if the regulatory changes are implemented, as temperature cutoffs will replace fixed spray dates.
Higher domestic rail tariffs and mixed capacity shifts will influence grain movement this harvest. Strong corn exports provide momentum, but logistics costs remain a critical factor.
The Final Grain Stocks Report may be the last key figures we see if a government shutdown halts future updates.
“Those could’ve easily been our beans going over there. It goes to show that if that opportunity is there, China would be willing to buy.”
