Tuesday was another dynamic day in the grain markets. Soybean futures hit contract highs and nearby corn futures climbed above $6, maintaining those levels the entire trading day. So, what’s behind the market momentum? Clinton Griffiths talked to Brian Splitt of AgMarket.Net who said there are three main drivers:
- Brazil’s safrinha corn crop remains at significant risk...with half of the crop currently under moisture stress.
- Brazil suspended import tariffs on corn, soybeans, meal, and oil until the end of the year.
- And in the U.S., cold weather continues to slow planting and emergence.
Watch Brian Splitt discuss the market moves with Clinton Griffiths on AgDay.
