Looking at long-term seasonal trends, the March-through-June time period provides an opportunity for forward pricing. Diversified Services Marketing Group senior risk analyst Rich Morrison was part of a series of marketing meetings across the region this past week and said the market is giving farmers a pricing opportunity. “I really think the bean market may be doing that right now. The market is holding up well, while the soybean carryout in the U.S. and worldwide is potentially double what it was last year.” The February supply/demand report will also include January data. “This could provide a lot of volatility for the markets; you basically have 60 days worth of numbers.” The acreage mix for the 2019 growing season remains a question mark. With the current trends in fertilizer prices, Morrison says the size of the corn crop may actually decline. The prices over the next two months will determine what happens with those acres.
Subscribe to RRFN
Get a weekly digest from RRFN to stay up-to-date on all the latest news in agriculture.