A combination of good demand and input supply shortages has StoneX Group commodities analyst John Payne is expecting grain prices to trade in a new plateau. “The government and U.S. suppliers are doing all they can to meet demand. Prices are double what they were for multinational corporations two years ago,” explains Payne. “I don’t think these companies are prepared to buy. I think they’re whistling past the graveyard to a certain degree, thinking these prices are transitory. I don’t agree with it; I think prices will stay high.” Payne is not expecting prices to go back to previous levels. “You’ll see demand come as soon as the Port of Orleans will allow. We’ll also be watching the South America crop.”
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