Soybean acres in Canada are poised to drop for the second straight year as farmers shift acres to more profitable crops, reports AGPro.
In addition to the price concerns, some growers are also worried that demand for the nation’s supplies will wither if China and the U.S. eventually strike a trade deal.
Prices are dropping at Canadian grain elevators as the South American harvest gives China more options. Spot soy price in parts of Manitoba has slipped 10 percent in the past 12 months, according to data from Farmers Advanced Risk Management Co.
Read the full report at AGPro.
