May 11, 2023
Max Armstrong examines the impact the USDA’s Grain Supply and Demand report could have on grain markets and the resulting livestock producers.
The feeling is that the report will tell us how many corn acres have been planted in the USA. The idea is that the corn acreage will combine with good weather and there will be a good corn crop. However, the result will be cheaper corn prices forecasted. This could mean the corn basis points will shift the positive side to the negative side—which would be good for livestock producers.
Richard Brock, of Brock Associates, says that being an aggressive buyer was good for livestock producers in past years but not the case this year necessarily. He says to buy on a hand to mouth necessity for the foreseeable future. He thinks prices could start with the number four this summer.
Max Armstrong's Farm Progress America is a daily look at key issues in agriculture. It is produced and presented by Max Armstrong, veteran farm broadcaster and host of This Week in Agribusiness.
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