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Ag economist watching supply and demand dynamics

An ag economist is watching demand as U.S. crop size is realized. 

Chad Hart with Iowa State University says USDA projections indicate the domestic corn and soybean crop has gotten smaller entering harvest.

“Especially on the corn side as we’ve looked at it over the intervening couple of months.”

He tells Brownfield the latest supply and demand report signaled broad-based demand pullback, so the question is which is retreating faster.

“Supplies due to the problems we had with the drought, or demand because of what’s happening with inflation, interest rates, and the pushdown on the general economy.”

Hart says exports have weakened, but remain strong enough to sustain current price levels.

“That’s what I’m going to be looking to see. Do we see those export sales over especially the next month, month and a half supporting that outlook and helping us keep robust prices on the marketplace.”

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