Grain market summary of price outlook, seasonal situation, fundamental & technical analysis with our recommendations for corn, soybeans and wheat for past week Wednesday to Tuesday.
Corn
Corn situation after the close Tuesday, September 5, 2023:
December corn settled on Tuesday at $4.86, -¾¢ since last Tuesday.
The past 7 days’ high was $4.91¾, the low was $4.76¾.
Contract high is $6.79¼ made Apr 27, 2022;
Contract low is $3.97½ made Dec 15, 2020;
Range is $2.81¾.
Yesterday’s closing price was:
$1.93¼ below the contract high;
$0.88½ above the contract low.
USDA’s 2022 crop carryout in terms of days’ use: US 39, world 93.
USDA’s 2023 crop carryout in terms of days’ use: US 56, world 95.
Pricing factors: