Analyst bullish on grain markets to close out 2021
A market analyst expects corn and soybean futures to finish the year strong.
David Hightower of the Hightower Report tells Brownfield prices should be in a good position heading into 2022.
“And I think if we get this end of the coronavirus scenario, or at least put it back in a fenced in scenario, you’re going to get a year-end rally in the grains. And that’s when I would be putting on my hedges for 2022.”
He suggests the outlook further into 2022 is less clear, but says farmers should not expect input costs to come down if commodity prices start to dip.
“The input costs are probably going to be sticky. They’re not going to go down if grain prices go down.”
Hightower says U.S. corn and soybean exports should remain strong until the next South American crop comes online in late February or early March.