Last week Bob Utterback of Utterback Marketing Services presented his market outlook during the National Farm Machinery Show in Louisville, KY. Markets right now are searching for positive news to build on, but predominant thinking is a weather issue is the best hope for higher markets this year.
Utterback says the global economy is sagging and demand for ag commodities is stagnant while supplies are “bunching up underneath of some world stocks.”
With no expectations of a surprise ahead from the demand side, and the possibility of good planting progress in April, then with continued turbulence in equity and oil markets creating an extremely weak outside macro market picture, a weather scare would have to be over-magnified to have any traction.
Hear more thoughts from Utterback in the HAT interview from Louisville:Bob Utterback