South American soybean production is at risk this year, due to the drier than usual conditions. “A couple of prominent research teams lowered their South American soybean estimates this week. That means more buyers will come to the United States for soybeans. The potential soybean balance table for 2022 and 2023 looks very tight,” said Rich Feltes, director of market insights, RJ O’Brien. According to Feltes, China is at an elevated risk, price wise, because of their dependency on soybeans in the world market. “The soybean markets are sending a strong signal to U.S. farmers: sell or plant more soybeans in 2022.” Throughout February, Feltes will be watching to see if the lagging export sales pick up the pace.
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