Corn and soybean markets remain under pressure, though some demand support is evident. Concerns are growing over pollination problems in corn, as reports of poor kernel fill circulate. Weather conditions are generally favorable, with near-ideal growing weather persisting, but localized issues could impact yields.
Talk of eliminating high-fructose corn syrup (HFCS) could reduce long-term corn demand, though effects are not immediate. Current corn demand is steady but not particularly strong, while soybean demand faces more challenges, especially with ongoing uncertainty from China.
The Brazilian corn crop continues to progress well, adding more competition to global markets.
As for marketing, caution is advised. Consider tightening up positions and looking for small rallies to secure sales, while monitoring crop conditions closely for any significant market shifts.
Jeff Peterson with Heartland Farm Partners shares todays Market Wrap Up…
