Analysts’ expectation that U.S. soybean acreage will remain high in 2018 has prompted a price caution from one ag economist.
“The large 2017 soybean production totals and the continued build-up of soybean stocks point toward a 2017-2018 marketing year price in the low to mid-$9 range,” Todd Hubbs at the University of Illinois told Farm Journal. “A continuation of above-trend soybean yields in 2018 would diminish the need for current acreage projections.”
Soybean acreage may need to decline in 2018 to generate a 2018-2019 marketing year average farm price in the mid-$9 range to cover cost of production, Hubbs said.
Ryan Bristle, farmer and marketing...