News

McHargue says soybean sector could be “turning the corner”

The president of the Nebraska Farm Bureau says he’s optimistic about the future of the soybean industry.

Mark McHargue says it’s trending in the right direction. “With some of these other trade agreements, certainly will have additional sales even though we don’t know how much that is going to add up to but when you put the two together and then combine that with our increase crush capacity, I feel like that this is something that could turn the corner for us.”

But, he says with China’s commitments less than previous years, the U.S. needs to continue to improve demand. “Coming back into the China market, that’s a good thing. We know we need to diversify away from China, but we can’t do it all in one shot.

McHargue says it’s critical that new trade agreement frameworks result in export sales. “It’s not going to happen overnight. I think it will happen, but is it going to beneficial for this year’s crop or will it bleed into next summer?”

He says farmers are storing more grain this fall in an effort to maximize crop sales in the future.

Mark McHargue: