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.
Related Stories
Higher tariffs may shield some U.S. crops but risk retaliation, lost markets, and higher costs for growers. The WTO disputes highlight the fragile balance between trade policy, farm exports, and input supply chains.
Cheaper freight is helping exports move, especially corn, but weaker soybean demand looms large.
Grain shippers face lower freight values thanks to weak soybean exports and strong rail service, but barge traffic and forward Gulf loadings suggest continued uncertainty as harvest ramps up.
The Fertilizer Research Act, reintroduced by Sens. Grassley, Ernst, and Baldwin, would direct the USDA to study and publish public reports on competition and pricing trends in the fertilizer market.
Farmers await concrete trade commitments from China. Until then, export prospects for soybeans, corn, and sorghum remain uncertain against strong South American competition.
U.S. trade talks with China resume, but meat industry leaders say dealing with shifting demand and market uncertainty is nothing new in this side of the ag sector.
