$15 New Crop Soybeans??

By Don Molino

Voice of Louisiana Agriculture Radio Network

Some analysts, in the wake of the July WASDE report from USDA, are projecting tne new crop price for November soybeans could reach $15 per bushel.

LSU AgCenter Economist Dr. Michael Diliberto says a lot fo that is “so far from knowing if it’s going to happen yet. But if you think the USDA estimate of 52 bushels per acre for the national yield is on the high side and you shave a couple of bushels off that yield, US soybean supplies are starting to look very, very tight.”

Diliberto also pointed out if even two bushels per acre are lost from a crop that is going to be planted on 83.5 million acres that can really take yields down and really create a tight market scenario.

“Throw that in with the on going drought concerns, a market that still trades weather, then things are looking tight from the supply side perspective. But when you go to the demand side of the balance sheet for soybeans, the US continues to lose market share to Brazil.”