Analysts urge farmers to sell off soybeans

Analysts urge farmers to sell off soybeans

7ef76bbad889906936308b9b3c43b52a_clientImage_300x199_medium_original_1

From WATTAgNet:

Some analysts say farmers may want to seriously consider selling some of their soybeans.

Brian Roach of Roach Ag and Ted Seifried of Zaner Ag spoke on “U.S. Farm Report” last weekend and said farmers may want to consider forward selling.

“The soybean market has been trading pretty much sideways here for the last near term, but I would encourage soybean growers to really get ready to sell this rally,” Roach said. “If this market report is not bearish on Monday, they ought to have their plans in place and be willing to let some soybeans go here.”

“The soybean outlook going forward is really quite bearish when you look at a record crop here in the United States, a potential record crop down in South America — although we’re still waiting on Brazil weather for the next couple of weeks or so — and a potential record planting here again in the United States,” agreed Seifried. “We’re kind of overshooting the mark on the production side of things. We’ve had strong demand, but we’ve met that and now we’re starting to overproduce. It’s very likely that we could see quite a bit lower soybean prices down the road.”

U.S. Farm Report: Get Ready to Sell Some Soybeans

Depending on what Monday’s USDA reports say, farmers may want to seriously think about selling some soybeans. That’s the verdict from Brian Roach of Roach Ag and Ted Seifried of Zaner Ag, speaking this weekend on U.S. “The soybean market has been trading pretty much sideways here for the last near term, but I would encourage soybean growers to really get ready to sell this rally,” said Roach.

Read more at AgWeb

Page 1 of 19
Next Page