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Unfortunately, only about 25% of the planting season is left, and growers have about 80% of ground left to plant in some northern areas.
Weather forecasts continue to call for another week of very cold weather in the Midwest.
Overall, the crop outlook (supply) still looks good but the demand is in question – more from the virus than from other issues, says analyst Ray Grabanski.
With the U.S. exporting one-sixth of its corn and 50% of its wheat and soybeans, less global is a bad thing. It needs the export markets, analyst says.
Transportation is also a major issue, so importing countries are buying rapidly to stock supplies.
The markets will return, as a result of the people solving COVID-19 and not the government, analyst says.