I will add uncompetitiveness as well. US and South America both have potential to increase acres.
Demand will also be a factor. At I think 60 to 70 % of world soybean trade, China is the ultimate driver of the soybean market. Their decisions are drivers of where soybean prices go. Closer to home, animal numbers and competitive protein sources including distillers grains and canola meal are other factors.
Perhaps just highlighting all is not perfect for the soybean. Pulses/peas have more of a human food demand base and actually a good outlook for growth in consumption/disappearance.
Demand will also be a factor. At I think 60 to 70 % of world soybean trade, China is the ultimate driver of the soybean market. Their decisions are drivers of where soybean prices go. Closer to home, animal numbers and competitive protein sources including distillers grains and canola meal are other factors.
Perhaps just highlighting all is not perfect for the soybean. Pulses/peas have more of a human food demand base and actually a good outlook for growth in consumption/disappearance.
Comment