Majority of producers will keep soybean acreage unchanged in coming year
This week Purdue University and CME Group released the October Ag Barometer, which was up 22 points from September. Not only was producer sentiment up across the board, but soybean farmers remain optimistic about better prices in 2019 reportsAgPro.
"We asked, ‘What are your expectations for soybean prices 12 months from now?’” Jim Mintert, Purdue University ag economist, explained to AgriTalk host Chip Flory. “And, roughly half said they thought prices a year from now [would] be about the same as they are now."
According to Mintert, the USMCA and optimism around other free trade agreements is influencing producers’ abilities to remain optimistic about the future.
Soybean producers included in the survey don’t intend to change their crop rotations for 2019.
Read the full reporthere.
US Corn Price Idx:ZCPAUS.CM
open: 7.0534
high: 7.0536
low: 7.0522
close: 7.0522
US Soybean Price Idx:ZSPAUS.CM
open: 15.3606
high: 15.3675
low: 15.3604
close: 15.3647
US Hard Red Winter Wheat Price Idx:KEPAUS.CM
open: 8.6183
high: 8.6227
low: 8.6183
close: 8.6218
US Soft Red Winter Wheat Price Idx:ZWPAUS.CM
open: 7.8093
high: 7.8093
low: 7.8093
close: 7.8093
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