Utterback Marketing President Bob Utterback says the grain market is very confusing, sending out mixed signals. “You can argue the demand side is nowhere as robust as it was this time last year. We’re producing a crop, so what’s the reason? The reason I think is the supply chain bottleneck. Product isn’t getting shipped out as fast as needed and users are getting worried.” Utterback thinks end users are using grain as a hedge against inflation. “End users are saying I want to get control of grain now instead of taking the risk going forward. Farmers perceive that’s happening and are filling up their bins first and not filling all of the grain off the combine. That’s the opposite of what happened last year.”
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