The soybean markets were certainly a hot topic during a Market Outlook Seminar at the Big Iron Farm Show. “Nothing cures high prices like high prices,” said Innovus Agra’s Bret Oelke. “If we stay out of balance in the soybeans like we are now to corn, that will drive in a boat-load of soybean acres. That will fix to whatever price we get later on in this marketing cycle.” According to The Arthur Companies grain merchandiser Jenna Knutson, a recent rally in the soybean market is definitely positive. “The thing to remember is we’re coming up to harvest time for the entire Midwest. That, coupled with favorable weather, could create more volatility,” said Knutson. “Remember to reward the rally and make sales when the time is fit.” Mike Krueger with World Perspectives said even though record corn and soybean yields are projected, the edge has been taken off of a monster crop. “China looks like they are doing everything to try and fulfill obligations under the phase one trade agreement. The country has purchased a record amount of corn thus far by a wide margin.” Watch the live stream of the seminar here.
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