DES MOINES, Iowa – Soybean prices continue to slide for a whole bunch of reasons. Much of it linked to foreign markets.
Agriculture.com reports fears that other countries may import less of the U.S. crop is one reason; investors cashing in on profits is another reason for lower prices.
The soybean crops in Iowa and Illinois are still looking good right now.
Virtually the entire soybean crop (97%) is now planted with two thirds of farmers saying their soybeans are in good to excellent shape.
In Illinois, 94-percent of soybean farmers say their crop is in “good to excellent condition”.
About two thirds of the soybean crop in northwest Illinois is now emerging.
The crop progress in both Iowa and Illinois is far ahead of last year and the five year average.