Northstar Commodity market analyst Brandon Marshall thinks grain traders are preparing for Friday’s USDA Supply and Demand report. Marshall thinks traders will be looking for signs of increasing corn demand. “One thing the trade will want to see is the carryout of ending stocks are coming down,” says Marshall. “They’re looking for 1.736 billion bushels. I think there are people who would like to see it around 1.5 billion bushels.” There are signs of increasing demand, but also some headwinds. “We know basis has been narrowing for the ethanol plants, but one negative from the last few weeks is headwinds from the export markets,” says Marshall. “Argentine corn has been more competitive than the U.S.”
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