The Northern Ag Expo took place November 29-30. Martinson Risk Management Agency Market Analyst Randy Martinson was one of three experts on a grains outlook panel. Martinson says Brazil’s growing conditions are something to be watching. “You can’t quite call conditions ideal, but it’s pretty close. Argentina on the other hand, is extremely dry and they haven’t even gotten all of their crops planted. Their wheat is described as disastrous, and they’re looking at lowering their production potential for corn and soybeans.” Martinson says global supply for wheat is already tight. “We’re probably sitting at the lowest global stocks in 15 years for wheat. It’s not going to help that Argentina, Australia, and the U.S. are having problems. Come spring, we may see fireworks if the winter wheat crop doesn’t improve, because we’re going to need to buy spring wheat acres.”
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