Posted on 09/18/2020 2:43:50 PM PDT by SpeedyInTexas
Soybean prices have surged to their highest levels in more than two years, driven by heavy buying from Chinese importers.
Most-active soybean futures trading on the Chicago Board of Trade closed Friday at over $10.43 per bushel, their highest level since May 2018. Soybean prices have risen more than 16% since the start of August.
(Excerpt) Read more at wsj.com ...
* Sales of soybeans to China for the marketing year that began Sept. 1 currently tally 17.4 million metric tons, already more than last year’s total of just over 17 million metric tons,
* Last year’s figure was already 20% higher than the previous year.
* “Demand from China has been immense; they are on pace to buy more beans than they’ve ever bought before from the U.S.”
* For U.S. farmers, the upswing in demand could make their acres much more profitable. In August, economists with the University of Illinois projected that with an average price per bushel of $8.25, farmers in Northern Illinois stood to make roughly $19 per crop acre. If prices stay around the $10 mark, that number could grow by more than fivefold, to $96.50 per acre
Thank you President Trump for your trade tariffs against China. Farmers were a casualty in the short run, but they can be a winner in the long run.
And it is nice to have surging farm sales heading into the election!
>> To: SpeedyInTexas
>> He said trade wars are easy to win. I guess we’re going to >> find out.
>>
>>4 posted on 4/5/2018, 6:12:06 PM by DoodleDawg
Yep, we are finding out...
I think their drought in the NW and the bad flooding everywhere else has wiped out their crops, plus their recent swine flu. Farmers will do OK for a while.
Would Soybeans be a more profitable crop than Corn?
Corn is already overpriced, as (I believe) much of it goes to Ethanol.
Great news for soy bean farmers as harvest has just started.
I don’t mean to lecture you but here it goes. Corn and soy beans on the Missouri bottoms under water last year are doing great this year. Beans are up to your armpits tall. Corn looks like 200/300 bushel an acre. Nothing last year great crop this year equals two average years. If you can pull your head out.
Oh, go easy on her, there always has to be a shallow thinker in the group. She’s ours.
What about Pork Bellies?
China,,,,?
Wait,Wuhan Virus and We
Feed Them?
I honestly didn’t know about the price status for either crop. It’s not something that significantly effects my day one way or another. Thank you for the information though.
This is helpful to know.
We still have to listen to the farmers poor-mouth about how bad things are. all the while they will be buying F-150s two at a time. (Just teasing!)
I think wheat too because the China crop has been decimated.
Good news for midwest farmers. There are going to be some happy youtubers after last year’s bad harvest.
That will be good news for the local farmers. Soy is taking over for navy beans and corn at the farms near me. Sugar beets are still king though.
CC
Eat more soy China, especially give lots of it to your infantry divisions.
Remember to ping if you are going to mention another Freeper
I was talking about her behind her back, pinging her would have defeated the purpose.
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