Few farmers want to hear bearish news, but ignoring the warning signs of an impending price slide may just mean you end up on the wrong side of it. About this time last year, Moe Agostino, of Farms.com Risk Management, was calling for a price slide in both corn and soy, and farmers, begrudgingly, have had to admit he was right.
Last week, Agostino was on hand at Canada’s Outdoor Farm Show at Woodstock, Ontario, to talk markets and Thursday’s WASDE USDA report. Shaun Haney caught up with Agostino to talk supply and demand fundamentals. The WASDE report itself didn’t really have many surprises, Agostino says, but did confirm what the market really already knew — there are many, many soybeans out there. Ditto for corn. Farmers who were hoping hot and dry weather would continue to push down production will be sad to learn that, if anything, some heat late in the summer actually helped the crop along. Check out the interview with Agostino below for more on the corn and soy markets.
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