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With so many additional bushels being produced in South America, we have to expect greater export competition.
Is there a great enough incentive for a repeat of more acres like last year?
Can soybeans continue to hold positive structure?
The USDA sees planting acreage falling to 90.0 million acres. Well below the 94.0 million acres that were planted in 2016.
Last week, the USDA released their initial baseline projections with corn acreage seen near 90.0 million and soybeans near 85.5 million.
The weather in South America remains one potentially bullish factor.