DTN’s Senior Market Analyst thinks farmers can expect higher grain prices in 2015.
Darin Newsom presented his 2015 market preview at the recent DTN/The Progressive Farmer Ag Summit in Chicago.
He estimates 2014-15 old crop corn futures will level off in the 4.40-4.50 a bushel range.
Newsom is forecasting the 2015-16 corn cash prices to reach 5.20 at some point in 2016.
He’s bullish on old crop soybeans, predicting 2015 futures could be priced near 12 dollars a bushel.
He’s not so optimistic about new crop soybeans for 2015-16.
Newsom says if both domestic and global ending stocks increase, the soybean markets could struggle over the last three quarters of 2015 and into 2016.
The DTN analyst figures the old-crop Chicago wheat contract could extend it’s move to near the 7 dollar mark through the winter.
Once spring comes, Newsom says traders’ attention will turn to the health of the U-S winter wheat crop as well as the ongoing quality versus quantity global supply situation.
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