Longest Slump in Six Months for Corn Futures

Corn futures have extended their losses for five straight sessions on the outlook of beneficial weather will boost our domestic crops. The US is the biggest producer of corn in the world, and this biggest slump in corn futures prices since November is not helping our farmers.

A prominent weather forecaster predicts favorable warm, dry weather this coming week will aid corn seeding in the central northerly growing region from North Dakota to Ohio. As of this past weekend, the USDA claims corn plantings to be 73% completed – 8% more than last year at this time.

The (USDA) Crop Progress report showed a jump in corn plantings to bring it into line with the same time last year. With dry and warm temperatures expected from now until Monday, the next report may see a jump over the five year average,” said Laura Taylor, a senior commodities broker at RJO Futures in Chicago, regarding the current corn futures situation.

Corn futures trend is now down on the daily charts. I am patiently awaiting some sort of temporary spike, or sideways action, in prices to go short corn futures. With the USDA’s forecast of this years corn harvest rising to a record, I don’t want to miss any more downward action than I have to, but I want to feel good about my risk.


Comments are closed.

Free Report
Receive Actual Trading Statements, & a Special Insider Report: 5 Key Trading Foundation Points

Futures Trading Report

Please note that it
takes a minimum
of $10,000 to effectively
trade these portfolios!
*First Name:
*Last Name:
*Day Phone with
Area Code:


Follow Us on Twitter