Analyst says Delta soy farmers could help stave off Brazilian imports in ’21
A diminishing supply both domestically and abroad could spark farmers in the Delta to plant soybeans early and often this spring.
Market analyst Al Kluis says the southern U.S. might have to import 30 to 50 million bushels of soybeans from Brazil this summer.
“That’s the only way you’re going to keep the soybean meal going to the hog farms in the southeastern part of the U.S., but oh is that expensive. You’re talking about freight to get it up here, unload those ships, put it in a barge, you’re talking $2 a bushel.”
He suggests there might be a cheaper alternative.
“If you have any friends (who are) farmers in the Delta, tell them to plant their soybeans as early as possible and (use) a shorter season variety because the cash bids have inverted. The August bid for beans in the Delta is two and-a-half to three dollars a bushel higher than September.”
He says the Delta region will be scrambling to stretch its supply in the months ahead.
Kluis made these comments during a webinar hosted by the Minnesota Corn Growers Association.