An ag economist says USDA’s recent global supply and demand report provided a little bit of market clarity for the first time in months.
Texas A&M’s Mark Welch tells Brownfield the lack of a major disruption in the report is dragging on markets.
“We’re seeing some of that risk premium that’s built into these markets,” he said. “Where prices are significantly higher, for corn and for wheat specifically, above where you would expect them to be given our supply and demand numbers.”
All nearby crop futures closed more than $.40 lower following the USDA’s report Tuesday.