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November Market Bulletin: seasonal corn prices may average $6.20-$7.20 bu.

“The strength of demand and potential for record setting production will be critical components in determining (corn) prices for the coming year,” reports David Moll, Grain Marketing Outreach Specialist University of Wisconsin-Extension Renk Agribusiness Institute. Additional factors in the corn market include possible changes to national ethanol policy and how much corn growers may plant in the spring of 2012.

Trends in the livestock market also favor strong prices for beef, says Brenda L. Boetel Extension Livestock Marketing Specialist University of Wisconsin-River Falls. “Although we tend to think about domestic factors…we also need to focus on issues such as exchange rates, trade policy and international economic conditions,” Boetel adds.”International factors are more important than ever to the profitability of the domestic beef industry. And this international dependence will only continue to increase.”

The UW Renk Agribusiness Institute issues its Wisconsin Market Bulletin the third week of each month. Supply and demand components for major crop and livestock commodities and futures market analysis highlight the market report summary. The complete monthly summary is found here:
The Renk Agribusiness Institute