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Terrain analyst Matt Roberts expects feed grain prices to stay sideways to lower through at least March 2024 due to large 2023 supplies and modest demand. Cattle and hog herds are not growing, so feed demand offers no lift.
Ethanol production is solid, and exports are tracking the USDA forecast of 2.2 billion bushels.
Outlook for ample corn supply and no feed demand boost points to continued weakness in corn prices for feed buyers, with planting-season weather the main upside risk.
hoards.comMatt Roberts, TerrainFeb 29, 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.
