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Hubbs on prospects for 2020 soybean prices

A leading ag economist says even IF there’s a trade deal with China, the specific terms of the agreement will be crucial for soybeans.

Todd Hubbs with the University of Illinois tells Brownfield Ag News, “If someone knows, please call me. I have no idea.”

Even though President Trump has said phase-one would include $50 Billion dollars in U.S. imports by China, Hubbs says no one knows where that’s coming from.

Hubbs says a big question is whether the recent soybean price rally has been overdone on the trade deal, “How much can China actually take from us with their hog herd down so substantially? AND the commitments they’ve made to other suppliers.”

Hubbs says two other open questions for soybean prices remain South America’s crop and the size of the 2019 U.S. soybean crop.