Posted 3/26/2020 06:56 (#8139534 - in reply to #8139313) Subject: RE: What am I missing?
Boone Co. Iowa
Lots of unknowns, but I think that you are correct in your thinking....
S. American crop is getting smaller not larger, and they might be having logistic issues with bringing in the crop due to COVID-19. I really think we had an ethanol boom and the boom is over. doubt we will ever see another ethanol plant built in the U.S. For 15 years, corn and soybeans had value added due to it being a fuel/energy substitute. It looks like corn and bean will go back to being a feed for beef, pork and chicken. That is good news for everyone that owns livestock.
China is one of our better customers, and relations between the two countries is not getting better.