|
Dawn, Missouri |
NO ONE knows for sure, but most of Missouri that grows crops, north of I-80 that grows most of Iowa crops, and southern MN that grows most of their crops were very dry in Aug. and the first part of September. I looked at a few soybeans field after church today and was very surprised how small the beans were. The plants looked great this summer for no more rain than we got, BUT most of the pods were two and three beans pods with very small beans.
We have had a good break since the July highs when central IL caught the good rains and northern IA caught some good rains but MOST areas didn't get those 1-3 in rains. I retired on July 31st after being a commodity broker for 33 years. Was a farm real estate broker for 22 years prior to that. Alot of years soybeans bottomed around October 3rd to the 10th. Not always, but alot of years.
Even though there will be some outstanding yields in a few places, I believe most will be very disappointed. Your risk is the cost of the option. If northern Brazil stays dry, we come up short on yield (will know shortly) and or China goes back to buying I believe we will take out the July highs.
Seems many are getting discouraged about the prospect for higher prices and that is a good sign we may be getting close to a low. Good luck! | |
|
Get your soybean calls bought if you are selling cash beans this fall!
