Home / Markets / Marketeye / This year's U.S. corn crop to be highly sought, analyst says

This year's U.S. corn crop to be highly sought, analyst says

07/26/2010 @ 11:00pm

Tim Hannagan, PFGBest.com senior analyst, says world grain demand may slow before harvest but expect domestic demand to heat up. 

"This year's harvest will be aggressively sought by ethanol producers, feeders and exporters, as it's finally sunk in that we're on a record export demand pace that will continue into 2011," Hannagan says. 

On Monday, soybean export inspections were 6.5 million bushels versus 9.6 million bushels the week prior, still over a four week average of 5 m.b. 

"China was in for beans Friday and another 226,000 metric tons Monday. So, the record demand pace continues for near and long term shipments. Demand takes over as a primary pricing source after harvest , while weather remains 90% of the market pricing until the crops are made," he says.


CancelPost Comment
MORE FROM MIKE MCGINNIS more +

Profit-taking Sinks Soybeans, Corn By: 10/24/2014 @ 8:57am DES MOINES, Iowa (Agriculture.com)—With the CME Group’s corn, soybean and wheat markets turning…

Soybeans Close 20¢ Higher Tuesday By: 10/21/2014 @ 8:39am DES MOINES, Iowa (Agriculture.com)—Slow harvest pace and buyers’ participation have underpinned…

Harvest Pressure Sinks Soybeans By: 10/20/2014 @ 8:50am DES MOINES, Iowa (Agriculture.com)— The CME Group’s corn, soybean, and wheat markets finished…

MEDIA CENTERmore +
This container should display a .swf file. If not, you may need to upgrade your Flash player.
Are We In a Climate Change?