Markets in need of “fresh news”
Grain prices have been on a downward slide and an extension economist suggests it will take fresh news to turn the market around.
Ed Usset with the University of Minnesota says March and April were tough on corn and soybean futures.
“We’ve had good prices for a couple of years, and if we want to keep those good prices going this market needs fresh news. It just needs fresh news.”
He tells Brownfield while the war in Ukraine remains very serious, there hasn’t been a new angle in a long time.
“It’s just carrying on and we have no new news to run with there. Argentina had a terrible crop, but frankly, that’s old news too.”
And Usset says Brazilian production overwhelmed whatever problems Argentina had.
As for planting delays in the U.S., he says it’s too early to see any sort of impact on the market. And Usset expects to see a lot of progress this week.