Brock Associates President Richard Brock wasn’t too surprised with the February USDA report. Most grain traders expected the USDA to increase corn and soybean exports more than they did. “I think what USDA is assuming is some of the exports will be cancelled. It hasn’t all been shipped yet,” said Brock. “That’s what USDA has to be assuming or else their export number would be larger.” Brock thinks the corn market may struggle in the next few weeks to go higher. “The key issue is having a strategy to take advantage of these prices. Soybeans could literally do anything. We can’t even see how we’ll get a carryover high for next year unless we pull more acres than expecting. We’ll still see fireworks in soybeans, but I’m not sure we’ll see fireworks in corn.”
Subscribe to RRFN
Get a weekly digest from RRFN to stay up-to-date on all the latest news in agriculture.