Report Snapshot
Although staying alert to corn prices may not be much fun right now, paying attention and being ready for the little moves up will be essential.
From early November to the end of February, the corn market had been on a bearish skid amid a negative news cycle fueled mainly by large corn stocks outweighing modestly positive demand. Moreover, the USDA’s initial read on 2024 acreage and yield was largely considered bearish, and market speculators piled into a record level of net short positions.
The bearish sentiment became so negative that the March 2024 futures contract briefly dipped below $4/bu., and cash bids in parts of the U.S. followed suit. The market has recouped a small amount of the losses since the beginning of March.
Continue reading report at TerrainAg.com.
Terrain™ content is an exclusive offering of Farm Credit Services of America, Frontier Farm Credit and American AgCredit.
While the information contained in this site is accurate to the best of our knowledge, it is presented “as is,” with no guarantee of completeness, accuracy, or timeliness, and without warranty of any kind, express or implied. None of the contents on this site should be considered to constitute investment, legal, accounting, tax, or other advice of any kind. In no event will Terrain or its affiliated Associations and their respective agents and employees be liable to you or anyone else for any decision made or action taken in reliance on the information in this site.
