Brazil’s soybean planting progress has picked up. Martinson Ag Risk Management President Randy Martinson says traders will be watching Brazil’s crop condition closely. “Right now, they are picking up their planting pace. Most of it is in-line with the five-year average, but the rain and lack of moisture is setting things up to determine whether or not the crop will grow. There are issues with crop emergence right now.” Martinson says this week’s record NOPA crush verifies very good demand. “Pardon the pun, but crush is crushing it as we see strong demand. It leads back to the idea USDA will have to increase exports and crush numbers for soybeans.”
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