The grain markets are expected to be well supported the remainder of the year. However, Utterback Marketing President Bob Utterback is not sure demand will be as strong as many traders expect. “Demand is decent, but China is not accelerating. The national advisor for China’s centralized planning announced they’ll lower the five-year average of hog production from 43 million to about 35 million. They’re softening demand, which may mean they won’t be as aggressive on the demand and buying side as they’ve been in the past.” Uncertainty over the biofuel programs could also pressure demand.
Subscribe to RRFN
Get a weekly digest from RRFN to stay up-to-date on all the latest news in agriculture.