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Audubon, Iowa | Lots of good thoughts on the bean market, but the easiest conclusion I can come up with is that a year from now everyone will be dumbfounded by how far off they were about everything. The old adage was that there were never three record crops in a row. Who would ever have guessed in 2014 that we would produce record crops for 4 straight years? My own opinion is that production has been good, in part because of better farming systems that mitigate stresses, and in part because we've been lucky with the weather. Luck ends. La Nina is present this year, which doesn't guarantee a drought, but does increase the odds that weather will be less favorable for Midwestern grain production. So my guess is that we will either have a drought and $15 beans, or a record crop for the 5th time in a row and have $8 beans, and it could be both in the same year.
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What's the odds Soybeans?
