- freeimages.com/robertz65Some analysts say farmers may want to seriously consider selling some of their soybeans.
Some analysts say farmers may want to seriously consider selling some of their soybeans.
Brian Roach of Roach Ag and Ted Seifried of Zaner Ag spoke on “U.S. Farm Report” last weekend and said farmers may want to consider forward selling.
“The soybean market has been trading pretty much sideways here for the last near term, but I would encourage soybean growers to really get ready to sell this rally,” Roach said. “If this market report is not bearish on Monday, they ought to have their plans in place and be willing to let some soybeans go here.”
“The soybean outlook going forward is really quite bearish when you look at a record crop here in the United States, a potential record crop down in South America -- although we’re still waiting on Brazil weather for the next couple of weeks or so -- and a potential record planting here again in the United States,” agreed Seifried. “We’re kind of overshooting the mark on the production side of things. We’ve had strong demand, but we’ve met that and now we’re starting to overproduce. It’s very likely that we could see quite a bit lower soybean prices down the road.”