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Randy Martinson, Martinson Ag, says corn tried to move higher early Thursday but the December contract is running into chart resistance with the 20-day moving average at $4.25. Can weather help the market get above this level?
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The details revealed “some tariff price pressures may be appearing in the economy.”
Ted Seifried, Zaner Ag Hedge, says corn and to some degree soybeans, were adding weather premium as some heat comes is predicted for much of the Corn Belt in the extended forecasts. However, talk of China business also stirred up the trade.
Vince Boddicker, Farmers Trading Company, says corn is extending gains for a third day still seeing short covering. However, the corn and soybeans markets are adding some weather premium with extended forecasts looking hotter in the 11-15 day time period.
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