Weekly Summary & Recommendations 11/6/24

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, November 5, 2024:

December corn settled yesterday at $4.18½, +4¾¢ since last Tuesday.

The past 7 days’ high was $4.20, the low was $4.09¼.

Tuesday’s closing price was $1.71½ below the contract high of $5.90 (June 17, 2022) and 33½¢ 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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