United States grain markets struggle to secure a firm foundation.
A market advisor speaks this challenge, in the program below.
AUDIO: Money Matters
Iowa Agribusiness Radio Network staff caught up with Bryan Doherty, senior market advisor and vice president of brokerage solutions for Total Farm Marketing, this week at the Iowa Power Farming Show. Doherty shared, ?United States corn and soybean markets struggle to find a catalyst.?
?This time of year, we?re going to be looking at what those drivers might be,? Doherty said. ?It?s early (to be) worrying about U.S. weather and planting delays. If you turn your attention to the southern hemisphere, they have good weather and Brazil has become a strong competitor in corn. They are projected to export 42 million metric tons of corn, almost double (of) what they did a year ago.?
U.S. grain markets, however, seem concerned about the Coronavirus outbreak.
?The Coronavirus is like any other news event. A lot of them come and a lot of them go. We just never know the magnitude when they start happening. Is this something that is a non-event a week from now or is it a problem that?s rapidly growing? None of us can control that. What we can control is our efforts to manage risk,? Doherty said.
Doherty encourages producers to keep an eye on weather, nationally and internationally, and work closely with an advisor to manage your risk.
