Corn: Since the market open on Monday, September corn futures have gained $0.10 while basis stayed relatively unchanged at the local level. The continuing rally in corn futures is a three part story. First, the damage to the South American crop continues to prevail in the market price of corn. Second, the recent weakening of the U.S. dollar has made exports more attractive to foreign buyers. Continue reading
Corn: Corn futures continue to trend higher during this short trading week. The upward trend in corn futures is being fueled by the continuing surge in soybean prices. Also, the drought that is hitting Brazil’s second corn crop could lead to higher demand for U.S. corn. As we get further in the growing season and closer to pollination, weather will become the major factor as to the direction of corn prices. Continue reading
Corn: September corn futures closed at their highest levels so far this year. It is hard to believe that $4.00 is finally here. After all, it was not that long ago that this price level seemed unobtainable. The combination of a few factors such as higher soybean prices, increased involvement of fund trading, and a weaker dollar have contributed to higher prices. Continue reading
Corn: The corn market has continued its rally over the early part of this week. However, the rally was cut a bit short due to a stronger U.S. dollar. This creates a bit of headwinds for corn futures. As we get further into the planting season, the size of the crop will start to be revealed in analyst reports. Continue reading
Corn: It has been a wild ride in the commodity markets this week. Corn, like the other grains, has had its fair share in the roller coaster ride this week. In fact, September corn futures opened Monday at $3.80 and closed today at $3.92. The gain of $0.12 can be attributed mostly to the fear of what will happen to U.S. corn acres along with a spillover effect from the soybean trade. The Midwest has received rainfall in key growing areas that is delaying the planting of corn. Continue reading
Corn: Both corn exports and new crop sales were lower this week. The lower sales contributed to the bearish tone in the corn markets. Speculative trading has been part of the driving force behind the lower corn prices this week. Continue reading
Corn: Corn has been trading sideways this week. However, corn prices are still above the recent lows that we saw take place at the end of March. Better corn sales has contributed to the increase in corn prices. According to the today’s USDA export report, net sales of 2.2 million metric tons established a marketing year high for 2015/2016. This is an increase of 80% over the previous week. Actual exports were a tad lower than last week’s levels.
Planting is advancing rapidly across the U.S. According to the April 25, 2016 Crop Progress 30% of the U.S. corn crop is planted. This is almost double the planting progress that we saw at the end of April of 2015. Continue reading
Corn: It has definitely been a wild ride in grains this week. Corn has definitely been on a roller coaster of its own. Earlier this week, corn futures traded north of $4.00 and the nearby month closed at its highest since July. However, corn futures did retreat lower today as corn futures approached the overbought territory as prices began to be met with resistance. Some of the driving factors behind the increase in corn futures is thought to be attributed to the lack of rainfall in key corn growing areas in Brazil. Other contributing factors include an increase in crude oil and higher equities. Both of which are still higher for the week as of the market’s close today. Continue reading