It was another week of relatively boring, range-bound markets. With the holidays approaching it seems like the trend will continue.
Since harvest I’ve been presenting Grain Marketing Workshops to farmers throughout the Midwest. During these meetings, I’ve had the chance to talk to many farmers about future plans. Many farmers have indicated they will plant more beans in 2017, since beans currently are above $10 and corn is under $4. Obviously this is anecdotal information. We won’t receive confirmation on this until the March 31 USDA report.
If this does happen, corn may have more upside potential several months from now, maybe even $4 by summer. For the time-being though (the next 100 days) I expect unexciting trading in the corn market.
Dry weather concerns in Argentina are keeping prices firmly above $10. However, the Brazil harvest is expected to be a record and the problems of last year are unlikely.… Continue readingRead More »