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Red Steele
Veteran Advisor

$8 corn....how far behind are the $18 soybeans???

Sold newcrop corn on Friday for cash $7.76 to a processor....using a  2.3 ratio makes this equivalent to $17.85 soybeans. ......seems like newcrop beans have a way to go yet to be in balance with corn. No wonder bean sales are strong right now for the newcrop months. Patience on the soybeans seems in order, unless the rains come. Had the best rain in weeks this morning, actually have puddles in the farmyard and the lightning and thunder was quite a show. Beat anything I saw on the fourth of July. This is in south central Minnesota.

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4 Replies
BTS4-210
Contributor

Re: $8 corn....how far behind are the $18 soybeans???

they may not stop at $18

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kraft-t
Senior Advisor

Re: $8 corn....how far behind are the $18 soybeans???

Red    beans are a forgiving crop that will wait for august rains if they don't die before hand. However we are getting closer to august every day.

 

Another thing I notice is the discount between November beans and March beans. The trade must be figuring on SA beans making up for our short fall.

 

You mustt have some confidence in your corn production this year.

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BTS4-210
Contributor

Re: $8 corn....how far behind are the $18 soybeans???

they may wait for that rain and be so short you can't get them in the header early 3's and filling pods and looking good all the group 4's are blooming   seen quite a few fields that even irrigated are not growing

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c-x-1
Veteran Advisor

Re: $8 corn....how far behind are the $18 soybeans???

From the board, beans are more bullish than corn. I've posted in other conversations triangle tgt 24-25 on monthly which should be reached sooner rather than later..

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