Wheat stocks could also drop some with the new crop, but soybeans appear headed for even more burdensome supplies. Expect soybean prices below loan price, but spring or summer weather scares may provide limited opportunities for pre-harvest sales. Overall, not very encouraging prospects for the coming year. Improved foreign economies and stronger export demand would help all farm commodities. Next year's South American production may slow down or, at least, growth in production should slow down.
Weather remains the major unknown factor.
La Nina could result in somewhat drier conditions and possibly some reduction in production. Less production could tighten corn supplies. Soybeans need both lower production and stronger demand. Marketing will be a challenge.