A new poll released by Agri-Pulse on Friday finds the recent soybean futures rally will pry on-farm inventory loose and encourage farmers to sell their old-crop stocks. In the past two months, soybean prices have increased two dollars. Thirty-seven percent of respondents said a price of $10.25 would compel them to sell their 2015 crop while another 12 percent said $10.75. Further, 10 percent said a price of $11 to 11.25 would get them to act, while near 40 percent of farmers surveyed preferred not to disclose a price. The poll found 45 percent of the 126 farmers surveyed this month by Agri-Pulse said they still have a portion of last year’s soybean crop to sell.
When asked what percent of their 2016 crop has been presold, 48 percent said 10 percent or less while another 43 percent said between 10 and 50 percent. Just 8 percent admitted to preselling more than 50 percent of the crop currently being planted. Agri-pulse surveyed the 126 Iowa farmers in conjunction with the Iowa Soybean Association.
Source: NAFB News Service