The run up in the grain market started as a demand story. Martinson Ag Risk Management market analyst Randy Martinson says until the next crop is available, there will be issues. That’s why this market rally has lasted longer than typical. “Weather rallies last from five days to two weeks, but since this has become such a demand-driven market. Brazil needs to import beans. It’s really going to help drive this until the next supply hits the market.” Martinson says South America is harvesting soybeans, but none have started coming into the export market. “Once it starts to filter in, we could start to see this market lighten up a bit. I think we’ll see a recharge in the spring, because we’re going to have to buy acres and add at least seven million acres to the soybean markets just to get the supply and demand numbers to work.”
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