Posts by Cobalt Agriculture

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…