After Monday's USDA World Agriculture Supply and Demand report showed corn supplies at the same level as November, National Corn Growers Association President Ken McCauley says the report indicates confidence in U.S. corn production.
"The report confirms that corn supply is still at the levels predicted last month, and shows that corn growers are able to supply all markets," McCauley says. "Prices are expected to be a little higher due to some perception of future demand. This report also shows that our foreign competitors are growing more corn and are planning on growing more corn. That's important to keep in mind as we look to build more market opportunities worldwide. It highlights the importance of better trading relationships and market access."
Predictions for corn are up globally, especially in Argentina, Brazil, South Africa and Ukraine. McCauley says higher prices attract the attention of other countries.
"It should show everyone we're in a global economy," he says. McCauley also stresses the importance of gaining market access and more uses for corn.