An improving South American crop is diminishing prospects for record-high corn prices in the U.S.
Analyst Matt Bennett with AgMarket.Net tells Brownfield Brazil’s second-crop Safrinha corn is looking really good.
“That kind of takes away one of those things that could have propelled the corn to all-time record highs.”
But he says if the U.S. plants fewer than 92 million corn acres AND yields fall below trend-line, buyers will scramble to secure supplies.
