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Spring corn and bean rally more than expected

Photo by Ben Nuelle

by Ken Root

The spring rally in corn and soybeans has been more than many were expecting.  It really can’t be explained by fundamental factors like supply and demand.  It appears to be driven more by the relationship of the US dollar to currencies of importing countries.

A bit of insight from the president of the U.S. Grains Council, a producer funded organization that promotes sales of several U.S. grains into the world market.

Ben Nuelle and I are in Washington, D.C. for the early part of this week.  We are attending an event sponsored by the National Association of Farm Broadcasters, our professional journalist association.

Monday, we heard from spokespersons from the major commodity organizations:  wheat, corn, soy, sugar, grain sorghum.  Summarizing what all want was the U.S. Grains Council.  I spoke with their president, Tom Sleight, about the current rise in the corn market as well as the hope for greater exports in the year ahead.