Following a mostly neutral August Supply and Demand Report, Utterback Marketing President Bob Utterback expects grain prices to struggle to move higher. “Seasonally, if we do continue to decline, I think we’ll still put an August low in. Then, the markets will bounce around,” says Utterback. “Once the grain bin doors shut in November, we’ll firm back up, but we aren’t going a long ways up. Mostly because there’s such large inventories.” The market outlook is flat. “I don’t think you can assume demand is going to explode and eat us out of this problem. We’ll have to eat through this; I don’t think you can get a supply management program put in place by spring 2021, even if you have a change in administrations,” says Utterback. “I think it would be spring of 2022 at the earliest. Putting that together, it’s a pretty flat market outlook.”
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