Todd's Take
Todd Hultman DTN Grains Analyst
Tue Aug 26, 2014 06:37 AM CDT

With many still thinking about last week's Pro Farmer Midwest Crop Tour and pondering the likelihood of record corn and soybean crops this fall, November soybean prices are making new contract lows. Friday's close of $10.29 1/4 a bushel, however, is still 42% above last year's cost of production, excluding land -- a much better return for low-cost producers than either corn or wheat prices are currently offering.* Both USDA and last week's crop tour are estimating this year's soybean crop near 3.82 billion bushels which, if true, will be a new record high and increase the carryout dramatically, from ...

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