Many might assume corn is driving the entire grain complex higher after USDA slashed 2020 acreage by five million acres. But at least one analyst says soybeans are in the driver’s seat.
Naomi Blohm with Total Farm Marketing says reducing corn acres from 97 million to 92 million is a very big deal. But so is the fact that USDA did not increase soybean acreage as much as the trade was anticipating.
“Along with prospects for improved domestic demand, and our crush number is strong.
