U.S. farmers grew a record soybean crop in 2016, South American farmers are harvesting a record crop, and big soybean acres are expected in North America in 2017, yet somehow soybean prices have remained relatively strong to start 2017.
“We’re about a buck a bushel above where we were at the fall lows, which is pretty remarkable considering the Americans have a record soybean crop, and record carryovers,” notes John Duvenaud, publisher of the Wild Oats Grain Market Advisory, in this discussion with Kelvin Heppner at CropConnect in Winnipeg.
They discuss where this price support is coming from (hint: China), whether Trump’s policies could impact Chinese demand, and soybean acreage expansion in Western Canada, as well as the feasibility of future crush demand on the prairies:
Watch more from CropConnect ’17 here.
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