Soybean Strategies

According to CHS Director of Oilseed Crush Tony Roelofs, China has filled the 12 million metric ton soybean purchase obligation with the United States. “We’ll likely see a lot of this executed over the next month or two to China, with the rest being tailed into the rest of the crop year.” The one area of demand growth has been in the soybean crush. The increased crush also means more soybean meal on the market. “Surprisingly, soybean meal has been better than expected in the last three or four months,” said Roelofs. “We’re seeing inclusion rates very domestically; in addition, we’re finding new homes in the export market, moving more meal into Southeast Asia, more demand in Latin America.” In Roelofs’ view, that is bringing equilibrium to the soybean meal market. Roelofs was part of a marketing session at MN Ag Expo.