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Farmers want to know if grain market has bottomed out

Farmers attending Minnesota Farmfest are wondering if a low is in for the grain markets. 

CHS grain originator Patti Uhrich spoke on grain marketing Tuesday morning and took questions from the audience, including a farmer asking if a low is in.

“Okay, is the low in? We can all hope so.”

She says while crop conditions aren’t great in Minnesota, portions of Illinois are projected to harvest 300 bushel corn.

“It looks fantastic.”

And Urhich says the stocks to use ratio for both corn and soybeans is above 10 percent.

“Anything in the 10 percent or more is an oversupply, and we don’t have very much demand.”