According to Reuters, the South’s soybean crop is growing more quickly than the rest of the country, and will potentially help lull the demand until midwest soybeans are ready in the coming months.
Growers in the south got a head start on the soybean growing season this year, making their crop marketable to crop originators and exporters. Even if Midwest growers produce a record crop this season, Southern growers have the advantage and can deliver crops before Midwest growers.
From Reuters:
“The quantities are substantial. The top 10 growing states across the South produced a record 658 million bushels of soybeans in 2013 and are on course to top 700 million bushels this year thanks to a 12 percent climb in planted area from a year ago and kind growing conditions so far this season.”
Via: Reuters > Southern crops hold the key to U.S. soybean outlook: Maguire
