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

Updated: 07/27/2010 @ 1:15pm

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.

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