Grain TV: Corn Belt Flooding Drives Rally
Strong exports in soybeans showed good demand at current prices. Corn exports were disappointing but are seen as being a poor week rather than a trend. Extensive flooding across the corn belt are causing concerns about lost acreage and quality which helped prices rally.
Some Grain Belt analysts question USDA’s latest 2016 farm income estimates as overly optimistic. They doubt growers were able to shed as much in input costs this season as USDA’s