Demand for Corn, Soybeans Shrinking
U.S. soybean crop has both a yield and quality problem
Despite all the problems that challenged the corn crop this year, the U.S. Department of Agriculture estimates corn production to total 13.8 billion bushels, reports AgriNews.
While supplies have shrunk a bit, demand may be shrinking even faster, said Chad Hart, Iowa State University Extension and Outreach grain marketing specialist, during the Tri-State Agricultural Lender’s Seminar.
However, six to seven months from now, Hart expects the feed and ethanol usage numbers to be larger.
The scenario for soybeans is similar; crop production is shrinking, but the concern is that demand won’t keep up.
The U.S. soybean crop has both a yield and quality problem, Hart said.
Read the full report here.