News that Brazil is buying U.S. soybeans will impact supply. Martinson Ag Risk Management President Randy Martinson thinks Brazil will need to buy corn, too. “That’s been helping the corn market. To see the grain shipment going to Brazil is friendly. We’ve seen their prices skyrocketing and they need to bring product in to slow down inflationary price that’s been happening. That’s why they want to bring in U.S. beans.” The demand will have an impact on U.S. ending stocks. “It’s certainly going to tighten up our supply. Right now, that’s part of what’s taking place. Early estimates are showing lower production and stronger demand. Some are saying with what Brazil may need to bring in for China, corn stocks could be tighter than anticipated right now.”
News Categories
Latest RRFN Podcasts
Subscribe to RRFN
Get a weekly digest from RRFN to stay up-to-date on all the latest news in agriculture.