Archive for April 2024

Corn – July corn closed down ¾ cent to 4.49 Throughout the session, corn futures tracked lower SRW wheat, but selling activity was kept to a minimum due to a soybean rally led by meals. Rumors that this week would see the announcement of the Sustainable Aviation Fuel (SAF) credit probably kept the market quiet in the interim.…

Corn  Corn futures for July dropped 2 cents during the session to $4.50, but they were up 7 cents for the week. Even though corn futures closed close to this week’s highs, they found it difficult to build on gains observed in the winter wheat markets. Options for May futures expired today, which probably dampened…

Corn May corn rallied 6 1/4 cents to $4.39 3/4, marking the highest close since March 28. For the second straight session, corn futures saw a surge, and this time, significant gains in wheat futures provided spillover momentum. The USDA’s weekly export inspection statistics for the week ended April 18 provided some fodder for the…

Corn Compared to a week ago, corn futures ended the week largely unchanged. The downward-sloping 40-day moving average, which is currently at $4.37 1/2, continues to restrict gains. Despite challenging that level multiple times in the past month, prices have only closed above the 40-day once. It is unlikely that a catalyst would push prices…

Corn Despite repeatedly hitting the 40-day moving average, May corn futures have only closed above it once this month. Following the positive acreage and stock reports last Thursday, prices closed above the 40-day moving average. However, on Monday, prices dropped below that level again, and then declined further on Tuesday. Prices are probably going to…