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Market strong for old crop

The market remains strong for farmers moving old crop corn and soybeans.

DTN analyst Todd Hultman says prices are good.

“And they continue to be supported by very strong domestic demand for corn. And we’ve had good export demand for soybeans up till now, and very strong crush demand for soybeans. So it’s been very good news and good rewards for that old crop this year.”

Looking forward, he says corn futures could “toy” with $7 this spring.

“Or early summer even. But on soybeans, it’s been tough at the $15 mark, seems a little shy there. And of course we have a record harvest on the way from Brazil, so that’s going to be tough to get too much more out of that soybean price.”

Hultman says South America becomes a bigger export competitor to the U.S. each year.

Brownfield affiliate KNUJ in New Ulm, Minnesota interviewed Hultman during the Sioux Falls Farm Show earlier this week.

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