It seems as though grain and soy markets have been struggling under the weight of very large supplies and stagnant demand forever. No doubt this is an exaggeration, but as a broad generalization, markets have been mainly supply driven during the last few years. Markets have also been battered by politically driven trade disruptions such as the tariff war between the U.S. and China and by the impact of the coronavirus pandemic. Both have negatively affected demand and trade. Furthermore, early planting of the 2020/21 U.S. corn and soybean crops last spring and the pattern of generally favorable weather though early August gave rise to the potential for record yields and record production for both. That potential plus the likelihood of stiff...

TAGS – Feed Grains, Soy & Oilseeds, Wheat, Livestock, China, North America, South America