The World Agricultural Supply and Demand Estimates (WASDE) were released on Tuesday morning. With China noticeably absent from the soybean markets, analysts weren’t expecting a huge change.
Brian Grossman of Zaner Ag Hedging in Chicago said if you are looking for excitement, this was not the report for you.
Corn was not expected to see much change, and it didn’t disappoint.
With China notably absent from the soybean markets there wasn’t a whole lot of changes to be made. Grossman says we could see changes in future reports if China does start to make future purchases. However, with Brazil’s estimated record soybean crop sitting out there, we could be in a tight spot.
Grossman says if you need to market beans, do not fret. There are plenty of decent options available if you need to make some moves, but you need to start making plans soon to take advantage of those prices.
Of course, anything can change with Mother Nature or if China decides to come back to U.S. soybeans soon.