Now that Thursday’s USDA report is out of the way, independent grain marketing specialist Elaine Kub says the market can respond to current harvest problems. “It’s very rare harvest delays would be justifiably bullish. However, wet conditions are so widespread and have lasted so long,” says Kub. “Soybeans are popping out of pods and starting to sprout in pods. That’s going to seriously start taking yield off. Obviously that’s not reflected in the big monthly supply/demand reports, but I think it’s real-time reflected in some of this risk premium in prices.”
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