A consultant says $20 soybeans are possible.
Despite a recent decline in prices, poor weather conditions could lead to a big uptick as supply tightens. “Right now we’ve got really hot weather going across the Midwest, if it sets in and we don’t get rain for the next six weeks, that soybean crop is not going to be 52 bushels an acre, it’s going to be way down in the ‘40s somewhere,” said John Baize.
The chances of $20 soybeans are rather small, but there is a chance.
Related:
Soybeans are projected to take over corn in the upcoming acreage report, third time in history
Input prices could cause crop acres to move from corn to soybeans
