The United States is looking at trendline yields for soybeans while Brazil is expected to significantly increase its soybean planted acreage. “If they do have this big crop, our window to be competitive in the export market is relatively tight,” explains Frayne Olson, crops economist, NDSU Extension. “By the time we get to late January and middle February, China and a lot of the world is going to switch to the Brazilian crop.” Argentina is surprisingly selling a lot of soybeans in the export market now. “They are our competitor in soybean exports when they normally wouldn’t be,” said Randy Martinson, president, Martinson Risk Management. “Their farmers have held onto their beans for so long that because their currency is worth northing, but the government is now forcing them to sell beans adding to our competition.” Watch the RRFN market panel.
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