By Jon Scheve, Superior Feed Ingredients, LLC
Corn continued to trade sideways, closing within a tight 5-cent range for the fourth week in a row.
This week the USDA will release the long-awaited final 2018 yield results as well as the supply and demand report. I’m expecting a corn yield decrease and slight increase in demand. Hopefully, if this happens corn will start to inch higher.
The Dec corn/Nov bean ratio moved slightly in favor of planting beans. If the U.S. and China don’t iron out a new trade detail encouraging more Chinese bean imports soon, bean prices may be in trouble down the road.
Brazil’s bean crop conditions continue to slide backwards which is slightly supportive but without a growing problem in Argentina it won’t matter. This is because last year’s drought in Argentina produced much less than was forecasted. If Argentina produces a normal crop this year it will be 40% larger than last year and offset any loss of yield in Brazil.… Continue readingRead More »