Not Convinced Corn Should Go Lower
USDA’s latest projections raised corn exports by one-hundred-fifty million bushels. It means shippers will need to load-out a lot of corn over the next three months says University of Illinois Ag Economist Darrel Good.
The ILLINOIS number cruncher wrote about corn consumption in his May 12, 2014 Weekly Outlook, "Although other factors may have contributed, corn prices declined following the release of the new WASDE ending stocks projections. Given the surprisingly large level of consumption of U.S corn that has unfolded this year and planting season weather that may pose a threat to both planted acreage and yield in some areas, the price weakness appears to be premature".
Read more from Darrel Good's article on the FarmDocDaily website.