Death comes to us all. Life's but a walking shadow | I hate to be cynical but the plain fact is: If the Brazilians actually produce the 100+ MMT bean crop that they threaten to this year it won't matter what the carryout is. The question will become what price are you willing to plant soybeans as opposed to corn or anything else. Will you plant beans if they are $5/bushel next spring, $6, $7 or $8? When China stopped bean imports in 2006 bean acres dropped 10 million acres in 2007, not because the price was so much lower (it was only $0.50 to $1.00 lower every month between 2005 & 2006) but because there was simply no place for them to go. Given the current and perspective ratio of Real to Dollar the Brazilians can under sell us at any price. |
soybean carryover projected@470 mb ( last yr was 190mb)
