Role of consumption underestimated

Role of consumption underestimated

Ag economist suggests corn and soybean consumption could affect longer-term price direction.

DESPITE the large U.S. corn and soybean crops this year, a University of Illinois agricultural economist recently suggested that the U.S. may be underestimating the importance of consumption and the size of ending stocks in setting the longer-term price direction.

"An extremely large year-ending stocks (number) would increase the probability of prolonged surpluses and relatively low prices, while more modest year-ending stocks would open the door f

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