Another positive that is an ongoing development is the South American crop.
The weather the next few months will determine what kind of crop yield occurs in South America.
Producers must be patient – price-bottoms typically last months, while tops last minutes.
Temps are about normal for all of South America for the entire 14-day forecast.
We can thank God for nearly perfect weather – from August forward – for our plentiful harvest!
The harvest has fallen behind for many fall U.S. crops since crop development fell behind normal.
The U.S. dollar has had a recent resurgence higher, and that is hurting grain prices.
Right now, the soybean market is trading overprices, with a large carryout estimate, analyst says.
Weather, USDA data to drive the farm markets going forward, analyst says.
This year’s crop-season is producing average crops, analyst says.