With new crop soybean prices above $10, Top Third Ag Marketing market analyst Jeff French is telling soybean farmers to lock in a floor under soybeans. “We don’t know what will happen with our export markets. In my opinion, we haven’t heard the last of the potential trade war or tariffs out of China. From a business standpoint, strong risk management needs to be done.” French thinks the cattle market is seeing a little short-covering. “The first two days of the week, we’ve had pretty negative price action in the cattle. We did have some cash trades. The lows from Tuesday will be the key technical support. Taking out those lows will attract additional selling pressure.”
