what is the corn market doing today

what is the corn market doing today插图

What is the price of corn in the market?

Corn Futures Market News and Commentary. Corn futures were steady to fractionally higher by Tuesday’s close. The cmdtyView National Corn Price Index is at $3.69, up 43 3/4 cents from the same day last year. National basis was pegged at -19 cents, 25 1/4 cents stronger than the same harvest period in 2018.

What will happen to corn prices in 2021/22?

Corn ending stocks in 2021/22 are projected to be higher than the December WASDE report, but the season-average farm price is forecast to remain unchanged at $5.45 per bushel. Foreign corn production is reduced this month, with several partly offsetting changes.

What is the latest corn and other feedgrains Outlook report?

See the the latest Corn and Other Feedgrains Outlook report. U.S. corn production is raised to 15,115 million bushels—a 7 percent increase from 2020/21 production.

What does the forecast for the Corn Belt look like?

Much of the Corn Belt can expect rain over the next several days. Wheat prices open with a plunge downward. Much-needed rain in parts of Nebraska and Iowa hit last night. Rain in the forecast and news out of China pressure the markets. Between now and July, the Russian government is set to impose three taxes on the exports of its country’s wheat.

Is the Low In?

On Monday, the continuation chart in corn suggests trendline support at $3.34, 13¢ below the current level.

Buyers Lock In Supplies

While he thinks harvest needs to reach 60% complete before a bottom in the market is set, Ward is encouraged by plenty of end users loving this corn price level and loving their margins.

Short-Term vs. Long-Term Price

Pierce sees the corn market, through year-end, gravitating lower on ample supplies, as cash corn looks for buyers.

Worst Time To Sell, Historically

Ward says the corn market has never placed a high in the month of October in the last 31 years. So, if you picked two months out of the year to never sell corn, they would be February and October.

Better Basis?

Brugler sees local basis prices to firm after early November as harvest slows down.

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