While the grain market may not reflect the full gravity of this year’s slow corn planting, foreign buyers of U.S. corn got the message loud and clear – and they’re turning to supplies from South America. Thursday’s export sales report for corn showed minimal new bookings and a South Korean feed maker overnight joined the list of regular customers looking for alternatives. A dry window for late corn planting is also contributing to weaker trade overnight.
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Bryce Knorr first joined Farm Futures Magazine in 1987. In addition to analyzing and writing about the commodity markets, he is a former futures introducing broker and is a registered Commodity Trading Advisor. He conducts Farm Futures exclusive surveys on acreage, production and management issues and is one of the analysts regularly contracted by business wire services before major USDA crop reports. Besides the Morning Call on www.FarmFutures.com he writes weekly reviews for corn, soybeans, and wheat that include selling price targets, charts and seasonal trends. His other weekly reviews on basis, energy, fertilizer and financial markets and feature price forecasts for key crop inputs. A journalist with 38 years of experience, he received the Master Writers Award from the American Agricultural Editors Association.