What is in store for the corn, soy and wheat markets this spring? With the USDA Prospective Plantings report out, we have our first look at producer planting intentions for 2020. What does this mean for the crops this year? How about supply? How does the weather look? How will the coronavirus pandemic affect demand? What does this mean for prices? We will try to answer these questions in our Spring Crop Outlook.
- Global supplies may be ample, but the uncertainty surrounding the coronavirus has end users around the world wanting to hold more food in storage.
- Food security has become a big concern; the new normal is to hold more inventory.
- Iraq recently bought 1 million tonnes of wheat this week, not because they had a sudden increase in consumption but as a cushion.
- Kazakhstan, one of the world’s largest wheat and flour exporters, recently banned all flour exports.
- South America could face transportation bottlenecks and harvest delays if the virus limits their ability to attract enough workers to fill those jobs.
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