Demand for Corn, Soybeans Shrinking

source: AgriNews

Despite all the problems that challenged the corn crop this year, the U.S. Department of Agriculture estimates corn production to total 13.8 billion bushels, reportsAgriNews.

While supplies have shrunk a bit, demand may be shrinking even faster, said Chad Hart, Iowa State University Extension and Outreach grain marketing specialist, during the Tri-State Agricultural Lender’s Seminar.

However, six to seven months from now, Hart expects the feed and ethanol usage numbers to be larger.

The scenario for soybeans is similar; crop production is shrinking, but the concern is that demand won’t keep up.

The U.S. soybean crop has both a yield and quality problem, Hart said.

Read the full reporthere.