March was an exciting month in the world of soy. As United States farmers finish preparations for planting season, harvest progresses in South America. We got our first survey-based look at what farmers intend on planting here in the United States. While the projected 87.6 million planted acres represent a 4.5 million acre increase over last season, the market was looking for even more area and prices jumped accordingly as expectations continue for balance sheets to remain tight throughout the new crop (21/22) marketing year. Turning south, soybeans are finally moving out of Brazil as March saw the second highest monthly export volume, trailing only April 2020. To learn more about soybean market developments in March, please enjoy U.S. Soy’s Market Intelligence Monthly.
