Corn Harvest is Winding Down, Now We Look to Demand

October 26, 2016 9:09AM CDT

Corn harvest is about 2/3  done. That is about average for this time period, which means we now have a good handle on the supply side of the equation.

The trade is now looking at the  demand. The produce is holding on this supply, hoping for the demand and therefore prices to increase. Even though Gulf corn is still the world’s cheapest, there is still competition from other countries. China, for example, could now become an exporter. They are cutting back on their feed grain imports due to the large stockpiles. The corn market is going to need help from corn and/or wheat, in addition to new export business. Corn is trading in a narrow range of about 355 and 345 near term.

Corn Daily

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