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A quarterly outlook says corn could see a strong US acreage year, though heavier production is unlikely to crash prices. The author is bullish on corn in the $4.50 to $5 range and notes USDA has cut ending stocks and consumption estimates have risen.
The piece also says a China-Brazil deal allowing Brazilian milo exports could reduce US milo demand.
Tighter US corn stocks support prices, while possible Brazilian sorghum competition in China could pressure US milo values and farmer planting choices.
terrainag.comBree BaatzDec 19, 2024Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
