Cash Strategist 7/5
It isn't a secret that the United States has suffered from poor corn demand all marketing year. Not only have export sales trailed expectations, but ethanol use is also off from initial projections.
We are starting to see soybean exports slow as Brazil continues to push out its record crop. Given the size of the soybean crop coming out of Brazil, we may see this pressure right up to the next U.S. harvest and potentially beyond.
The question now is what will it take to see demand increase? The easiest way would be through crop loss in other parts of the globe, but this doesn't appear likely for another year. It will take price to bring the U.S. additional export business.
Even with price pressure, the United States has suffered from export cancellations rather than additional sales.
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