If Supply Chains Remain Intact, Corn Could Rally

URBANA, IL – As traders prepare for next week’s USDA Prospective Plantings report, the University of Illinois ag economist Dr. Todd Hubbs suggests that potential for lost demand from ethanol production and the recent COVID-19 market collapse will add to planting uncertainty. With higher ending stocks for corn and the expectation of 94 million acres planting, Hubbs says it will take a more robust export pace and stronger feed use domestically to support higher prices. On a positive note, he points to a recent 30 million bushel sale of U.S. corn to China as a sign that international demand might expand if supply chains remain intact.