Summit Commodities market analyst Tim Marsh thinks U.S. corn acreage may turn out higher than the USDA forecasted. “I also think the USDA’s corn yield at 179.5 bushels per acre is unrealistic given the lack of subsoil moisture in the northwestern Corn Belt. Throwing in three to four million corn acres and knocking the yield down into something more realistic, there’s an adequate supply that probably should justify lower prices than we have right now.” The grain markets are rallying on in the short-term weather forecast. Marsh says those rallies are a positive for farmers. “Fortunes are made by buying low and selling too soon. By the time the highs are in, the market will be below where it is now. It’s the time to make crop sales.”
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