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A market adviser says corn prices have been under pressure since harvest because producers have many bushels to sell. He says demand is improving but still needs work, and that prices must fall to make U.S. corn competitive globally.
He also flagged uncertainty over USDA's yield estimate and South American crop prospects.
Heavy farmer selling and weak export competitiveness keep corn prices depressed until demand firms. Uncertainty over the U.S. yield and the South American crop could shift the balance later in the year.
brownfieldagnews.comLarry LeeJan 29, 2024Not 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.
