Market is currently down three on corn and four on soybeans. Monday thru Wednesday we saw a rally back of close to twenty cents. With that being said, consider getting some sales on to reward the market move, or confirm offers with your buyer.
Secretary of Agriculture Sonny Perdue announced on Wednesday that he believes China will start buying soybeans in late spring and summer, as China has yet to be seen confirming their commitment to purchasing U.S. farm goods. Along the government theme, EPA is mulling ideas to help oil refiners with measures to comply with the ethanol blend rates.
Argentine farmers and exporters are showing warning signs of smaller soybean crops. This comes from an imposition of 33% tax for soybean and export for farms over 37,000 bushel production, this affects ¼ of their farmers who produce ¾ of the crop.
Make sure to call and talk about sales, we were recently reminded the market can take away twenty cents just as quick as we had it added back.
Have a Great Day!