Corn Supplies and Weather Forecast

DTN Senior Ag Meteorologist Bryce Anderson gives an update on corn supplies and possible future price fluctuation moving forward.

Anderson: "For corn, I think we are going to see prices stay pretty flat. Maybe improve a little bit if there is a dry weather issue that starts getting into the market's thought when we get into February and March but we've got a lot of corn. We had a record corn crop in the U.S. this year of over 15 billion bushels. South America had a production cutback in Brazil because of drought back in March through May, but they have better moisture and it looks like their corn crop is going to rebound in Brazil and stay about steady in Argentina. So if there is a price increase, I think it is going to be fairly minor and not a big spike because we have a lot of corn available."

While the Pacific Northwest will receive additional precipitation in the next several months due to the La Nina, the forecast is not so positive for Colorado, as Anderson continues.

Anderson: "When you get into the Western Plains, the situation is not quite as favorable because the Western Plains — Colorado and Wyoming — are likely to be colder and drier. That makes it even tougher because we already know there is dryness in that part country."