After a rough few months, there finally seems to be some optimism when looking at the soybean markets.
Jon Driedger is a market analyst with FarmLink Marketing Solutions.
"I think in many ways you can say that maybe the worst is behind us, or at least that's what we feel in terms of there was a lot of bad news that had been priced into this market, kind of over the late spring and early summer. We're seeing prices bounce off a little bit and again there's so much uncertainty now with what will shake out between China and the U.S. and that trade dispute. Obviously we don't know exactly what that harvest will be like. We haven't taken crop off the field. Within all the uncertainty, maybe in some ways you might think that maybe the worst of the news is behind us and I think the market has started to claw its way back a little bit, just kind of in response to that."
Driedger was a guest speaker at the Legend Seeds Knowledge Plot Tour held Wednesday near Winkler.
He also touched on the corn markets.
"We have a pretty good outlook for corn here going forward overall, and again uncertainty in terms of what the yield will be in the U.S., if they pull off a bigger yield than expected. Obviously, that would be a bit of a head wind, but I think within that, a larger, wider global backdrop is, we have a tightening market globally for corn. Ending stocks going forward look to dwindle, particularly maybe in some key exporting countries and we think that's a supportive backdrop. At the same time that global wheat and barley supplies are also tightening up. So all of that gives us a pretty good outlook."
Drieger says he'll be watching the corn yield number coming out in the USDA WASDE report on Friday.