End of 2023/Early 2024 Commodity Markets Influencers

What are the expectations when it comes to markets between now and January? Crossroads Co-Op Regional Manager, Brian Irey anticipates the focus to be on South American weather

“Where Brazil just continues to struggle with a lack of water. In some areas, it is too wet in some others. But generally speaking, they are struggling with their soybean and corn crops down there at the moment. Both of those crops went in late and they are progressing very slowly, which in the case of Brazil is a big deal because they raised two corn crops. That second corn crop goes in after the first one comes out. And it looks like right now those acres could be down 10 to 15%, which is a big deal for us corn if we can take that much corn out of Brazil's production pool.”

With the other watch factor being exports.

“We have been light on corn all along up until the last month or so. And as I mentioned earlier, we're starting to pick the pace up there. We actually saw China cancel at least 10 vessels of corn with Brazil. It's the markets implying that that business will come to the US.”

However, he says we cannot rule out Ukraine as they are a supplier of cheap corn.