Those questions came up in several individual and group discussions during the past week. Big crops and low prices present a disappointing outlook for grain producers.
Most current forecasts are for normal weather and good production.
After last year's forecasts of a drought that didn't happen and with few areas of dry soil concerns, average weather is expected to produce more than enough grain. After four of the largest U.S. soybean crops and another record coming from South America, the markets are more focused on large supplies and showing little concern for potential production problems. Some analysts are pointing out a few factors the markets seem to be overlooking. Soybean supplies are large, but so is use. In both of the previous two years, huge increases in ending stocks were expected early in the growing season.