Analyst Predicts at Least 3 Million More Soybean Acres in 2017

Last week's WASDE report came and went without much of a stir in the stock market. Producers now need to turn the focus to the weather in South America.

According to Chip Nellinger of Blue Reef Agri-Marketing, Argentina has seen dry weather, but it hasn't affected yields. If there's no rain for that area, he believes it will build weather premium into the market.

The first of January, South America plans on harvesting soybeans, according to Bob Utterback of Utterback Marketing, which will allow them to plant double corn in northern Brazil two to three weeks earlier.

"They're going to have a bigger corn second crop," says Utterback.

Another story Utterback and Nellinger discussed was the acreage forecast for 2017 and the increase of soybean acres. Utterback listed Kansas, Missouri, Iowa, the Dakotas, Minnesota and Ohio as some states boosting their soybean acreage.

Utterback believes soybeans will increase 3 million acres on the low end, but he says 5 million acres could be a wildcard when shifting wheat acres are factored into the mix.

Not all wheat acres will be shifted to soybeans. According to Nellinger, some of the planting decisions have already been locked in, but overall he sees corn acreage decreasing.

Comments

Restricted HTML

  • Allowed HTML tags: <a href hreflang> <em> <strong> <cite> <blockquote cite> <code> <ul type> <ol start type> <li> <dl> <dt> <dd> <h2 id> <h3 id> <h4 id> <h5 id> <h6 id>
  • Lines and paragraphs break automatically.
  • Web page addresses and email addresses turn into links automatically.
Submitted by Himanshu on Tue, 06/12/2018 - 04:18

Control panel is one of the most useful program in all of the pc by which you can personalize your settings and program of your windows 10 pc if you doesn't know that how to set the control panel on home screen then here you will get that how to add control panel icon on desktop in windows 10 in just few steps.