News

Long term outlook uncertain for soybeans

Demand for soybeans is good, but with record domestic production and the potential for big South American production, the long term outlook is a little uncertain.

U.S. Commodities President Don Roose tells Brownfield there is a lot to keep an eye on, “I think you have to very concerned with the increase in supplies in South America, with the increase in acreage here, with the Chinese buying in the U.S. starting to slow down, with some of the trade issues going forward.”

Roose says there are some near term steps producers can take to limit their risk, “If you’re selling old crop or new crop beans and you think you could have some concerns with some weather issues down the road, make sure you buy some insurance policies or change your risk profile to your benefit.”

The USDA’s next set of supply and demand estimates, including updated South American production projections, is out February 9th.