USDA is projecting another large corn and soybean crop again this year.
The Organic and Non-GMO forum took place in St. Louis earlier last week.
Bill Lapp is President and CEO of Advanced Economic Solutions in Omaha. He spoke about how supply and demand impacts commodities.
?That is one of larger stocks and low prices. Where we?ve been in terms of growing crops in 2017 looks to be the theme for the next nine to 12 months.?
Farmers again will expect good yields in both corn and soybeans. Lapp says with low prices means there is increase for demand.
?We?re going to have a fairly strong export market this year. There are signs in the field grain and wheat demand side.?
Soybeans, in terms of demand, continue to expand.
?The key is China. They continue to grow. Globally we need about 2 million more acres per year of soybeans to meet the demand growth. It is 3.5 to 4 percent a year. There are some favorable trends. It just takes a while to play out,? Lapp says.
