Source: FARM DOC DAILY, UNIV. OF ILLINOIS, 3/27/17


May corn futures prices tumbled to the lowest price level since December during the week ending March 24. Large crop estimates from around the world placed downward pressure on the corn market despite some positive domestic consumption numbers in exports and corn used for ethanol. Large global corn stocks appear to be the key factor currently in the corn market. Numerous USDA reports recently released show a mixed picture for old and new crop corn prices in 2017. If the U.S. sees a reduction in corn production this year, it may provide limited support for corn prices due to the growth in foreign production. 

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