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Stewart-Peterson analyst Naomi Blohm expects corn to rally into late May and June and could retest the 2016 high near $4.50. She cites fewer US acres, strong demand and ending stocks that could fall below 1.8 billion bushels.
Her forecast assigns a 70% chance to the retest.
Fewer acres and firm demand point to higher corn prices, which raises feed costs for buyers in the coming months.
brownfieldagnews.comMark DorenkampApr 6, 2017Not 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.
