According to Progressive Ag Marketing market analyst Brian Strommen, Brazil’s soybeans are entering the critical pod fill stage. “This is a timeframe where South American weather becomes more critical. It’s something to be watching and there are estimates for a slight reduction in production estimates.” In portions of Mato Grosso soybean harvest is beginning, but widespread soybean harvest isn’t expected until January. A thin trade will lead to increased volatility. Strommen says keep an eye on the South American weather forecasts. “We’ll come back in the new year and see what direction these markets will go.”
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