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Analyst says rain will be big driver in soybean market
Market analyst Jeff Peterson with Nebraska-based Heartland Farm Partners says weather over the next three weeks will determine the direction of the soybean market.
Peterson says many areas of the Midwest still need some rain to finish out the soybean crop.
“I think the big driver going forward is whether we are going to have some rain that’s going to come in the latter days of August into the first part of September,” Peterson says. “If we do see those rains come in, that’s going to put some pressure on the market and probably means that this short-term high, that we’re in the process of finding, holds.”
In this interview with Brownfield, Peterson also comments on reports from the Midwest crop tour and estimates of crop loss from the derecho windstorm in Iowa.
