A market analyst says the combination of the USDA’s Prospective Plantings Report and skyrocketing futures prices has farmers talking about the commodities markets.
Mac Marshall is the Vice President of Market Intelligence for the United Soybean Board. He says farmers have more forward contracting opportunities now than they did at this time last year. “The futures curve was still in that eight to nine dollar range and now, there’s certainly a lot more opportunity for getting 12-plus dollars across the whole futures curve for new crop beans.”
Marshall says farmers were in a low-price scenario since the 2013-2014 marketing year until coming back with a vengeance last fall.
