Big crops and low prices have been a fact of market life for so long that it is worth pointing out something of a change in the early weeks of 2017.Beginning with 2013/14, the U.S. and the rest of the world have enjoyed four years of generally favorable weather for field crops as farmers produced huge, often record-large volumes of wheat, corn and soybeans. All of this culminated for U.S. farmers with the massive corn and soybean crops harvested in 2016, a year when the country’s yield records were set for all three crops. World demand also expanded at a record pace during this same four-year period, although it did not keep up with the growth in production. The result is that world stocks have risen to record levels. While not setting reco...

TAGS – Feed Grains, Soy & Oilseeds, Wheat, Equities, North America