Sep 21, 2014
Home| Tools| Events| Blogs| Discussions Sign UpLogin

Old-crop Corn Sees Boost in Prices

May 4, 2012

Big difference between old and new crop corn prices this past week. While spot corn prices were up nearly $.10 bu., new crop Dec-12 corn was down $.14 ½. Strong cash basis was the principal driver of old crop corn, while favorable weather, rapid plantings and higher corn production forecasts from South America all contributed to lower prices for new crop corn.   

The story in the soybean market was the exact opposite. Spot soybean prices were down just over $.20 for the week, while new crop Nov-12 futures were up nearly $.05.  Speculative liquidation selling pressured old crop soybean prices, while lower production estimates from South America and strong exports provided the boost the new crop prices. 

Across the board, Chicago wheat prices were under pressure. July-12 futures traded down to new contract lows, and below the $6.00 level, finishing the week down just over $.40 per bu. at $6.09 ½.  Expectations for a large U.S. winter wheat crop, and higher spring wheat acre’s were the driving force for this week’s lower prices.

(Click the charts below to view larger)

5 4 12 Market Movement

5 4 12 Prices

5 4 12 COT

See Comments

RELATED TOPICS: Corn, Soybeans, Marketing, Analysis

Log In or Sign Up to comment


No comments have been posted



Receive the latest news, information and commentary customized for you. Sign up to receive the AgWeb Daily eNewsletter today!.

Enter Zip Code below to view live local results:
The Home Page of Agriculture
© 2014 Farm Journal, Inc. All Rights Reserved|Web site design and development by|Site Map|Privacy Policy|Terms & Conditions