(NAFB) – Demand for U.S. corn continues to be strong, and it’s showing in Chicago, where the May spot-month contract recently pushed well over seven dollars a bushel. Your browser doesn’t support HTML5 audio Your browser doesn’t support HTML5 audio Your browser doesn’t support HTML5 audio Your browser doesn’t support HTML5 audio
The July contract is around seven dollars as well. Joe Vaclavik, founder and president of Standard Grain in Nashville, Tennessee, talks about the reasons behind the higher corn prices.
He says this could mean more export business for U.S. corn in the year ahead.
It’s been a while since the nearby U.S. corn contract was over seven dollars a bushel.
While South American drought is top of mind in the market, dryness in North America isn’t quite as high on the list of concerns yet.