As 2020 hits the halfway point, grain markets are seeing some of their biggest moves of the year following acreage adjustments by USDA.
Today on Farm Journal Live, AgriTalk's Chip Flory and Rich Nelson of Allendale react to USDA's crop acreage report.
“With a lot of people still kind of locked down due to the COVID-19 crisis, I would guess you’re going to see a lot of backyard BBQ,” says Jim McCormick
The market was able to bounce back from losses after the reopening after USDA announced Tuesday morning private exporters sold 132,000 metric tons to China for new crop delivery.
More than three-fourths of rural bankers within 10 states are reporting an economic downturn in their areas. This is despite government payments aiding producers.
Pro Farmer reports new-crop sales last week rose to 1.38 MMT with China buying more than 1 MMT.
“Weather is still, in my opinion, and will always be the thing that has the single-biggest impact on prices or at least has the ability to,” says Joe Vaclavik, president