Investors are reacting negatively to today’s soybean USDA Supply/Demand numbers.
This week’s high-profile talks on ethanol’s RINs credit system is not over. President Trump wants all sides of the issue to meet again.
The outside markets are mixed, with the U.S. dollar lower and the Dow down triple digits.
Investors are digesting the USDA’s latest U.S. 2018 acreage of 90.0 million corn and soybean acres.
Estimates of Argentina’s 2018 soybean production continue to fall. The latest number is 47.0 million metric tons, with only 20% of the crop in good/very good condition.
The soybean complex remains well supported by the dismal crop-weather in Argentina, affecting half of that country’s soybean crop.
The ag markets have started the day with the bears in control.
The U.S. corn demand is helping chew through U.S. stocks.
In January, 43% said their farms were financially worse off than a year ago, compared with a barometer high of 81 in August 2016.