After this week’s Supply and Demand report, all eyes are on Brazil and its second corn crop. Prices there are higher right now, but that is all set to change when the U.S. crop enters the picture.
Brazil’s corn harvest is now 95 percent complete. Prices are around 12 percent higher because of less availability, but economists there say it will be short-lived. Estimates for their second corn crop are coming in several million metric tons higher than previously thought, largely because of higher-than-expected plantings.
Export projections are holding steady, though, down 23 percent off last year because of increased competition from Argentina.
