Weekly Summary & Recommendations 10/23/24

Grain market summary of price outlook, seasonal situation, fundamental & technical analysis with our recommendations for corn, soybeans and wheat (Soft Red Winter, Hard Red Winter & Spring), fuel, fertilizers for past week Wednesday to Tuesday.

Explanation of our approach:

https://www.wrightonthemarket.com/post/how-to-decide-when-to-price-grain

Corn

Corn situation after the close Tuesday, October 22, 2024:

December corn settled yesterday at $4.16½, +15¼¢ since last Tuesday, the past 7 days’ high was $4.17, the low was $3.99.

Tuesday’s closing price was $1.73½ below the contract high of $5.90 (June 17, 2022) and 31½¢ above the contract low of $3.85 (Aug 26, 2024).

USDA’s 2024/25 crop carryout in terms of days’ use: US 49, world 91.

Pricing factors:

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