News

Ag economist points to downside risk for soybeans in ’19

An ag economist fears $9 dollars could be the best cash price for new-crop soybeans next year.

Todd Hubbs with the University of Illinois says there’s a lot of downside risk going into 2019.

“Large supplies, stiff competition from South America, not to mention the tariffs and trade issues.  So when you’re marketing your soybeans this year, it’s important to keep these factors in mind.”

He tells Brownfield there are some basis bids around $9.10 for November soybeans.

“Those aren’t bad prices under the current scenario.  I know it’s a tough year for marketing (and) I’m not saying ‘sell all your beans.’  but if $9.10 is the worst bean sale you have on new crop, I think you might be happy with that.”

Hubbs says with so much uncertainty, producers will have to pay attention to the news to anticipate potential rallies.