Soybeans Top $11

Agriculture

I’m Clinton Griffiths with today’s Agday minute.

 Grain markets surged on Thusday with soybean futures topping the 11-dollar mark for the first time since July of 2016. What’s behind the rally?

Ted Seifried said, “We didn’t plant enough soybeans. If China was going to buy the soybeans in earnest to fulfill the trade deal, we could run out of soybeans. All of those things are running into fruition but that’s not the news in the last two days. What is news, it looks as if the republicans are going to keep control of the senate, which means not a huge influx of new taxes. That’s good for the economy.”


and more U.S soybeans are heading overseas, this time to Brazil. Reuters reporting it saw a shipping lineup that showed about 38-thousand tons of beans were being loaded on a bulk cargo vessel for shipment to the country. Brazil is the world’s top exporter of soybeans, so it almost never needs imports. But this year, growers have sold huge amounts of beans to china and that has left them with little for use in their own country.

Nestlé’s Purina is launching a line of dog and cat foods that include insect proteins and other alternatives to meat. ‘Nestlé beyond nature’s protein’ has two versions: one that mixes in black soldier fly larva with chicken, and beans. And another that includes chicken, pig’s liver, and plant protein. The new products go on sale in Switzerland this month.

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