The grain markets continue to trade sideways or lower ahead of the May Supply and Demand report. NAU Country Vice President of Farm Services Rich Morrison is not expecting friendly carryout numbers. “If the USDA uses its planting intentions numbers at 97 million acres of corn, even the most positive demand numbers can be negative when you start looking at the bottom line. I’m leery ahead of this next report.” Morrison says the corn carryout number in that report could easily top four billion bushels.
