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A feed ingredient analyst lists bearish factors for corn, including coronavirus, African swine fever concerns, farmer selling, possible 94 million acres, lack of Chinese purchases, a large South American crop, weak ethanol margins and a strong dollar. Corn futures were down only 15 cents since the virus hit, and March-May spreads had narrowed.
Despite the bearish list, tight spreads and strong basis suggest limited downside, so feed buyers should watch for a price floor. The strong dollar slows exports.
iowaagribusinessradionetwork.comStaff EditorMar 4, 2020Not 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.
