The Gulf region is without power and the focus is on recovery, which has pressured the grain markets. Speaking at the Peterson Farms Seed field day, Advance Trading Risk Management Advisor Tommy Grisafi says this is a short-term issue. “We’re in a multi-year bull market, you can’t let one storm make you think that we can change world demand,” Grisafi told RRFN. “They can’t move the grain through those terminals currently and that makes China and others to temporarily go to South America, but they’ll be back and we’ll get through this.” Markets exploded this spring and summer. Going into fall, the tight supplies has helped boost the local basis. “That’s the market’s job to get those bushels out of those bins. The pipeline is dry and we had a drought and demand is still pretty good around the world.” Grisafi will be on the RRFN stage at the Big Iron Farm Show Tuesday, September 14 at 1:30.
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