Gas prices are at their highest level in the last three years, and in many places around the country, the cost of a gallon of gas hit the $3 mark.
Crude prices have been hovering near $70, and according to Sue Martin, president and founder of Ag & Investment Services, demand will continue to stay strong as China has “ambitious goals.” She believes this demand will turn customers to ethanol, which in turn will boost corn demand.
“I don’t see it any other way,” she said on AgDay. “It’s very supportive and actually, corn has almost ignored what crude’s been doing—it’s been so quiet.”
Hear why she thinks the surprise is in the corn stocks in farmers’ possession and how the markets could be inverted next year on AgDay above.