In the current year, many US farmers will face some challenges in storing of new crop grains, which harvest is expected to be very high in the current year, reported the agency Bloomberg.
To date, many granaries in the USA still hold grain carry-over stocks from last year, partly due to low demand for US wheat on the global market caused by its unattractive prices. Therefore, in 2017 significant volumes of US grains will be kept in rather poor conditions.
“It will be the worst storage crunch in the 30 years I have been trading wheat,” said Michael O’Dea, a risk management consultant at INTL FCStone Inc. in Kansas City, Missouri. “A lot of grain will end up in ground piles”.
You can receive more detailed information about the US grain market by visiting the 2nd American-Ukrainian Agrarian Congress, to be held on June 20-21, in Washington, D.C. (USA).
