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Wednesday, May 22, 2024

Crop updates show tightening soybean supply

Fresh off a fall where foreign demand has pushed soybean prices higher, area farmers are eager to see what the March 9 USDA Supply and Demand Report brings.

Lately, signs have been pointing toward an even tighter soybean supply, according to Dan Uttech, grain market analyst for New Vision Cooperative.

Uttech says last week’s USDA report showed that the U.S. had inspected 26.5 million bushels of soybeans during the previous week.

For much more on Uttech’s observations regarding the current grain markets, see the March 3 edition of the Cottonwood County Citizen and Citizen eEdition.

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