Ag in the AM: Soybean Farmers Could Get “October Surprise”
URBANA, Illinois – A University of Illinois economist says there’s the possibility for an “October Surprise” in soybean prices in the weeks ahead.
Illinois Ag economist Darrel Good says looking at past years’ August through October U.S.D.A crop reports it’s not unusual for soybean yields to rebound in October when the September report is below August estimates.
Good tells “Farm Week Now” the average rebound is just over a bushel per acre.
He says the South American bean crop can still be threatened by weather, September saw a record amount of exports of U.S. soybeans, and bio-fuel production is increasing.
Those, he indicates, are all signs that could drive up prices.