The slow planting pace is built into the market. Investors look for new news to trade.
The tight supply of hay started with last year’s drought in the Dakota states and Montana.
USDA releases dismal numbers in its Weekly Crop Progress Report.
New weather forecasts and geopolitical issues take center stage with farm markets and outside markets.
Investors were expecting U.S. ending stocks to drop and world stocks to build.
While the USDA Weekly Crop Progress Report does not have any corn and soybean ratings yet, the wheat ratings are unusually poor.
President Trump has called for more tariffs on imported Chinese goods to the U.S., creating more nervousness for investors.
Investors are digesting the trade talk, Argentina’s soybean weather, and positioning ahead of next week’s USDA Prospective Planting Report.
From Iowa to Ohio and from Minnesota to Illinois, farmers say that they expect more soybean acreage than last year.
Outside money pressures the soybean market. Will the bloodletting continue?