Bower Trading President Jim Bower says Wednesday’s USDA Planting Intentions and Quarterly Stocks report indicate soybean supplies at the end of the new crop marketing year will be way too tight. “What does the market have to do? As planters start to roll in the next few weeks, the function of the markets in the next six weeks is to encourage gains for acreage, especially soybeans.” Bower says more wheat acres are also needed. “Especially in the areas where profit margins have been squeezed so bad. We don’t want to destroy demand and make sure we’re monitoring the crush situation. We don’t want to over crush soybeans and find us in a place where we simply run out.”
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