Trade, weather concerns linger
The past few weeks have been tough on agriculture with the Chinese tariff issue and weather concerns.
Wayne Nelson with L&M Commodities in New Market, Indiana says the tariff talk has put a “dent” in our happiness as far as prices are concerned.
“We sure hope that some things can happen here soon where negotiations can start back up,” Nelson told The Central Illinois Farm Network this week.
If a weather ridge materializes across the United States during pollination time and causes weather problems that could lead to higher prices. Another market mover would be any type of agreement with China. This could lead to a decent bump in both corn and soybean prices.
“There is a long way to go as far as getting this crop to the bin,” Nelson added.
Crop condition ratings are looking decent so far and if there aren’t many weather problems this summer, we will have a much bigger crop than what the last report was anticipating.
A few of Nelson’s customers say the way their soybeans are looking and growing, they could be out combining by the end of August.