While the grain market talk currently focuses on planting weather in the U.S., I can’t help but keep an eye on U.S. and Chinese economic situations and currency values.

People ask me often, “So, what are those soybean prices going to do?” My simple answer is that Mother Nature has more to say about it than I do! Currently, the outlook for soybean prices around the industry is more of a gloomy forecast than it is sunny. Rightfully so considering the U.S. is expected to plant 6 million more acres of soybeans compared with last year. With current U.S. ending stocks for soybeans sitting at 445 million bushels, we’re at the most comfortable level of supply cushion in a decade.

Ignore the “"planted acres" chit-chat, and focus on these three big things as planters begin rolling this spring.

What do higher corn futures mean, and what does the future hold for producers still dealing with last year’s harvest conundrum?

Speaking specifically to soybeans and starting the process of new-crop sales, it is important to start forward contracts or consider a hedge-to-arrive on 10% to 20% of your new crop.

Increased volatility means increased opportunity. Those who are prepared will likely fare well.

If you’ve sold corn at the local elevator because your bins are full, there are different strategies for reowning that corn in case prices go higher in 2017.

It is a telling sign regarding demand for a commodity when at harvest, in the midst of higher-than-expected nationwide yields, grain prices rally instead of fall. That’s exactly what is happening throughout the Midwest. Producers are selling beans out of the field since the cash price is much more favorable, and they’re opting to store corn at home.

As futures market volatility continues to thrash and twist, with plunging lows and gravity-defying highs, know which fundamentals to watch.

Ah! Summer market volatility – almost as fun as getting a shot. Last month we talked about ways to protect prices with cash sales or put option strategies, being mindful that the market has a tendency to peak around the 4th of July. I hope you got those cash sales locked in because the entire grain market looks to be headed lower.