Farm Progress

Will corn demand push stocks lower?

The latest round of data from the USDA didn't move the corn market very much.

Kevin Van Trump, Founder

February 13, 2017

1 Min Read

Corn price post little movement following the latest round of USDA data.

Ethanol usage was raised +25 million bushels to 5.350 billion. Non-ethanol food, seed and industrial was raised +10 million bushels.

Corn ending stocks are lowered -35 million bushels from last month. The projected range for the season- average corn price received by producers was narrowed 10 cents on each end to $3.20 to $3.60 per bushel, with the midpoint unchanged at $3.40.

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Production in both Argentina and Brazil was left "unchanged." Perhaps digested as somewhat bearish was the fact the USDA raised their corn export estimates for Ukraine and Canada.                            

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About the Author

Kevin Van Trump

Founder, Farmdirection.com

Kevin is a leading expert in Agricultural marketing and analysis, he also produces an award-winning and world-recognized daily industry Ag wire called "The Van Trump Report." With over 20 years of experience trading professionally at the CME, CBOT and KCBOT, Kevin is able to 'connect-the-dots' and simplify the complex moving parts associated with today's markets in a thought provoking yet easy to read format. With thousands of daily readers in over 40 countries, Kevin has become a sought after source for market direction, timing and macro views associated with the agricultural world. Kevin is a top featured guest on many farm radio programs and business news channels here in the United States. He also speaks internationally to hedge fund managers and industry leading agricultural executives about current market conditions and 'black swan' forecasting. Kevin is currently the acting Chairman of Farm Direction, an international organization assembled to bring the finest and most current agricultural thoughts and strategies directly to the world's top producers. The markets have dramatically changed and Kevin is trying to redefine how those in the agricultural world can better manage their risk and better understand the adversity that lies ahead. 

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