Archives for April 2017

The USDA expects American farmers to plant more acres of soybeans this year than any in history. The glut of soybean stockpiles and expectations for another bumper year are driving prices to six month lows (which you can see on my chart below). Corn and wheat are facing similar situations with large inventories sitting in storage. Farmers are trying to cut acreage, but not at a rate fast enough to affect stockpiles. The WSJ reports: Soybean futures closed near a six-month low on Friday after the U.S. Department of Agriculture forecast that nearly 90 million acres of the crop will be … [Read more...]