Grain markets are showing red across the board during Tuesday’s trading session. This occurs as reports of peace talks between Russia and Ukraine drive headlines today. According to Steve Freed, Vice President of grain research for ADMIS, the lockdown in Singapore is raising concern about China importing energy and other commodities.
“We also note that there was word Chinese hog producers are trying to use cheaper feed stuff versus soybean meal,” says Freed. “Some people think that may reduce their actual imports of soybeans from 90 million tons [or] 92 million tons from the 94 million tons the USDA is using.”
Matt Bennett, co-founder of AgMarket.Net, says during a trading session like today, producers cannot take anything for granted with these markets.
“As a producer, with that kind of profit margin on the table, we’ve gotta be willing to protect it,” says Bennett.
More on Bennett’s message below as well.
-Betsy Jibben, AgMarket ConsultingBack