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Analyst says global demand for grain flattening out

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The demand for wheat has peaked according to Dan Basse, president of Chicago-based AgResource Corp.

BRIAN PETERSON / TRIBUNE MEDIA MCT ARCHIVES Enlarge Image

The demand for wheat has peaked according to Dan Basse, president of Chicago-based AgResource Corp.

A readjustment period lies ahead for world grain and oilseed farmers for the next 3-5 years according to a leading U. S. grain markets analyst.

Speaking at the first-ever Cereals North America conference in Winnipeg this morning, Dan Basse, president of Chicago-based AgResource Corp., said the bio-fuel demand spike is over and global grain demand is flattening out.

That means there will be fewer acres needed for production and farmland prices may have peaked.

He said the increase in global caloric will not be enough to stimulate the kind of demand growth that's existed since 2006.

He said producers may have to wait for 2017-18 for the next bull market cycle to begin.

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