Based on current conditions, however, it appears that the soybean prices need to be at a level to discourage a large increase in U.S. acreage in 2006.
More Quotes from Darrel Good:
South American soybean production prospects will be one of the more important market factors for the next three months.Darrel Good
Similar to corn, USDA soybean production forecasts had the largest impact on soybean futures prices in August with recent price reactions appearing somewhat larger than in the past.
Darrel Good
Markets will continue to react to other factors, but these reports will provide updated fundamental information.
Darrel Good
A minimum of 23 advisory programs were included in the analysis each year. A total of 41 programs were included for at least one year. The results for 1995-2003 were released in earlier reports, while results for the 2004 crop year are new.
Darrel Good
This is contrary to the view that the markets are inefficient and provides substantial opportunities for farmers to gain additional profits through marketing.
Darrel Good
Fundamentally, the increase in exports and export sales has been a supportive factor. Ideas that ethanol-driven demand for corn will continue to increase at a brisk pace and that U.S. corn acreage may decline modestly in 2006 also provide fundamental support. Dry weather has driven wheat prices higher and has raised concerns about the 2006 growing season for corn and other crops. Speculative demand for corn and other crops has also escalated, as evidenced by the daily tally of the net position of the fund traders.
Darrel Good
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