Now that harvest is under way in the United States, the trade is showing more interest in what is being done with newly collected bushels.
Farmers have been more willing to sell soybeans going into harvest, and it appears as though this may continue for the short-term future. This is especially the case where yields and crop prospects are higher.
We may see more bushels stored overall this year as storage facilities are mostly empty across the Corn Belt.
The question that always accompanies harvest is how much price pressure we may see. If an elevated volume of bushels is placed in storage this year, the cash market will likely remain firmer than normal.
We haven't seen significant harvest pressure on the market in recent weeks, and in regions of lower production, the pressure is likely to be even less. While this may reduce the amount of farmer holding, it may ...