Market Rally: Outside Markets Still Driving Ag Commodities

November 17, 2017 04:31 PM

Today on Market Rally, Allendale Inc.’s Rich Nelson said, “I’d like to say we’re currently looking at the lowest grain prices we’ll see for the next three years, but I just can’t say that yet.” The influence of the markets outside of the commodity world are providing some support for the grain markets, particularly the lower U.S. dollar and recent strength in the energy complex, but until money flows from equities into alternative investments, it will be difficult to generate upside momentum in the ag commodities. Nelson also detailed how increasing numbers of cattle, hogs and poultry on feed this year could lead to a “price-friendly” surprise from corn-for-feed use in the January Quarterly Grain Stocks Report.

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