‘Another roller coaster’ in the marketplaces as corn squeeze continues
2 min readIt can be not abnormal for corn finish customers to experience the squeeze later on in the summer season as previous crop provides dwindle. But, as AgweekTV’s Michelle Rook and Randy Martinson of Martinson Ag Threat Administration talked over on this week’s Agweek Marketplace Wrap, that squeeze now is taking place.
And that indicates the price tag retains heading up.
“The commercials want it, they want it, they are hoping to bid for it, but no person is providing it,” Martinson said.
He expects costs will go up farther, possibly screening the $7.4875 significant from 2013 and it’s possible even the $8.4375 all-time superior set in 2012.
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Whilst corn was pushing better, in general the 7 days was yet another unstable one.
“It was yet another roller coaster,” Martinson stated.
Soybeans have taken a backseat to corn, but it stays strong on the desire for soybean oil. Rook explained soybean oil’s energy is coming from both of those human use and bio vitality needs.
Wheat has been following corn and soybeans, but Martinson mentioned drought disorders in both equally the winter wheat and spring wheat regions has furnished some toughness.
Cattle, specifically feeder cattle, felt the pressure of the robust corn market place this 7 days. But boxed beef is at an 11-thirty day period high, Rook mentioned, and Martinson mentioned New York’s probable reopening in July could demand demand.
Plus, the hog market remains sturdy on tight supplies, and that need to assistance the cattle market, also, he mentioned.
