Hardest Headwind for Corn in 2017 Will Be Wheat

December 28, 2016 11:48 AM

Corn and wheat prices have seen hardships in 2016, but it looks like the corn market won’t be turning a corner any time soon.

According to Tommy Grisafi of Advance Trading, Inc., corn will have a tough time rallying with the massive stockpiles of wheat in the global market.

“When you look at what you can plant to make money, maybe you should switch it and say, ‘What can you plant and lose less on?’” said Grisafi to Tyne Morgan, host of U.S. Farm Report.

Soybeans, on the other hand, are having better luck. Craig VanDyke of Top Third Ag Marketing says there’s “phenomenal demand” for soybeans. However, he does think there are signs of waning demand in the futures market.

“Maybe we’re starting to see the production in South America come together,” said Van Dyke. “This week, this market is starting to show signs that maybe we’re starting to turn the corner a little bit.”

Listen to Grisafi and Van Dyke discuss the South American weather forecast and Argentina’s corn and soybean acreage on U.S. Farm Report above.

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Spell Check

Edward Smalley
Salem, IL
12/28/2016 06:45 PM

  It is time take a profit on what we can and leave the rest alone. Wishing it was so will not put a looser in the black. My guess is that the banker will be more likely to loan on a winner and spot the interest on the balance than make the problem worse by loaning on a sure looser. The prime directive is to survive. Good luck to us all!

Flora, IL
12/28/2016 06:16 PM

  "What can you plant and lose less on?" How about NOT PLANTING AT ALL! As long as week keep paying the high inputs and going to the field to lose money, we deserve to go broke. Just saying.