News & Publications
October 18, 2024 |
Can U.S. Corn Exports Rebound?
Ag Marketing IQ: Corn crops in South America impact global opportunity and make a 50-cent difference on prices – up or down. Production in Brazil could pressure U.S. soybean prices.
The market seemed to sigh with relief after the release of last Friday’s USDA Supply and Demand report for corn and soybeans. Well, sort of.
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December corn ended the trading day 2 cents lower at $4.16½.
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November beans lost 9¾ cents to fall to $10.05.
With harvest rapidly approaching the half-way point, yields for both crops have been more or less excellent and the fear in some circles was that the USDA might come up with forecasts near the top end of both ranges. Or, 184.8 and 54.0 bushels per acre versus the 183.8 and 53.1 bpa figures reported.
