It’s harvest time so grain is starting to restock the pipeline, said Don Roose, market analyst with U.S. Commodities in Des Moines.
“The big question is when does the end-user step in and start buying,” he said.
Early harvest corn yields are better than expected. In Iowa, Nebraska and Minnesota, yields are the most variable, and in the Dakotas they are pretty good, Roose said. Even in droughty parts of Iowa, early yields aren’t as low as expected.
“For the conditions we had, they are surprised with the yields,” Roose said.
End-users are watching. They decide when the stock is low enough to spook them into buying, he said.
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