The U.S. faces tough competition in the export market. Summit Commodities market analyst Tom Pfitzenmaier cites the corn and wheat moving out of the Ukraine at substantially lower prices than the U.S. Gulf. “Brazil is also set to have a record soybean crop; the dollar doesn’t help, because the Brazilian real is dropping, making us less competitive.” Cornbelt Marketing market analyst Sam Hudson says domestic demand is also seizing the supply. “The feeders and processors are getting it now,” said Hudson. “Are we going to cannibalize demand and never get it back because South America will raise more?”
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