Economist says supply & demand reports quickly affected markets

An economist says there might be some opportunity in the market following the USDA supply and demand reports released Thursday. 

Brenda Boetel with the University of Wisconsin River Falls tells Brownfield the reports delivered a few surprises like increased carryovers and an even larger production estimate from Brazil, but with tighter than expected supplies, the market reacted quickly. “About an hour afterward, we saw thirteen cents in corn and about twenty-seven cents increase in soybeans.”

But, Boetel does not expect corn prices to keep climbing long-term.

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