Supply, consumption, and ending stocks expectations for the 2017-18 U.S. corn marketing year have remained remarkably stable for the past several months.
Lower corn prices, strong ethanol exports, and greater blending requirements combine to make 2017 appear to be a strong year for corn consumption in ethanol production.
From October 13 through November 25, the price of January 2017 soybean futures increased by 8.4%. The higher prices were led by soybean oil prices, with the January 2017 futures price up 9.4%.
Check out these supply and consumption scenarios for the 2017-2018 marketing year.
What’s the potential source of higher corn prices?
The recent recovery in soybean prices has been led by soybean oil prices, with December 2016 futures now 22% above the late-July low.