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Kevin Van Trump has over 20 years of experience in the grain and livestock industry.
This seems to be the question of the year so far in the corn market and one that many in the trade seem to be asking themselves. Below are a few of the more thought out responses I have heard on what may have actually taken place:
Corn traders will also be waiting to see what the USDA has to say about South American production. Remember the April and May rains will do a lot to determine the overall yields of the large second crop planted in Brazil. I thought it was interesting to hear talk out of Brazil this weekend that they are thinking about importing corn from Argentina to their most Northeast regions who have been hit hard by the recent drought. The rumor is there are not many alternatives, especially since the freight truck companies aren't interested in carrying corn to this region with all of the soybean and sugar business in full-swing.
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