date:Dec 11, 2012
ain, he says.
Another factor in a bullish dairy scenario is the potential for increased corn production if the weather returns to more normal patterns in the Midwest. That could pressure corn prices down to $5 per bu., Schmahl says.
Based on the futures market, Stephenson projects soybean meal prices to decline about $70 per ton. Corn prices are likely to hold steady until next falls harvest, when increased production fills inventories. He expects to see corn prices then decline by $1 per bu.