Eastern Corn Belt farmers will likely benefit from market moves
A grain trader fully expects farmers in the Eastern Corn Belt to have a few more solid marketing opportunities before the end of the season.
Nick Reigler with Michigan Agricultural Commodities tells Brownfield USDA’s latest crop production estimate, along with private crop tour yield checks, have weighed on the market the past few weeks, but exports continue to guide demand.
“If we continue to see solid exports as we have prior, a lot of bushels from Michigan and a lot of bushels from our area could be working down into the river system contrary to the last couple of years,” he says.
Reigler says while there are pockets in Michigan that are too wet or too dry, the USDA estimate is likely too low.
“Overall, we’re expecting a monster,” he says. “I think USDA has some work to do on their Michigan yield average of 169.”
USDA’s corn yield estimate would be a record for Michigan if realized. Reigler says while acreage this year is down from recent years, the state has the possibility of topping 2014’s record crop of more than 355 million bushels. To do that, farmers need to yield 188.25 bushels per acre which Reigler says is within reach.
Brownfield interviewed Reigler during a recent Between the Rows tour stop.