A grain market analyst isn’t optimistic corn prices will improve much before next spring.
“The numbers are just not there.”
Richard Brock with Brock Associates says USDA’s November Supply and Demand report was a game changer with a 1.9 bushel/acre increase in the national average corn yield.
“What that does is it takes the carryover to 2.2 billion bushels plus and the stocks-to-usage ratio to 15%. The last time we had a balance sheet like that was in the 2018/2019 marketing season and corn averaged $3.61 a bushel that year, $1 lower than where we are now,” he says.
