Early April rains and a string of warm weather has planting season firmly in the minds for many Midwest farmers. As they look at markets for the upcoming crop, acreage expectations are likely to limit corn’s price movement, but soybeans may find room to be bullish.
“With corn, it’s hard to get pulled up because the intended acreage was higher,” said Jack Scoville of Price Futures Group. “I expect we’ll see some fading in the new crop. In the beans, the expectations are much more tempered because the acreage is unchanged from last year. If there is a potential for a rally, it would probably be in the new crop soybeans rather than the new crop corn.”
Markets have been on an uptrend in recent weeks, which matches the seasonal trend, but Scoville said not to be surprised if there is some selling as prices reach their peak.
Source: www.grandrapidsmn.com/around_the_web/news/soybeans-have-room-to-rise-as-planting-begins/article_0d1e9dbd-1662-5c1d-97af-90f1aa945a5b.html
Photo Credit: GettyImages - Zoran Zeremski
Categories: Missouri, Crops, Corn, Soybeans