We are starting to see a shift in the soy complex from focusing on this year’s production in the United States to more interest in the upcoming crops in South America.

At the present time, estimates of the U.S. soybean crop range from 4.1 billion to 4.3 billion bushels. Brazil just harvested a 5.7 billion bushel soybean crop, but a much larger crop for next year is anticipated. The USDA is currently...