The corn market has closed within a tight 25 cent range throughout October. Farmers have not been selling during harvest, which has kept prices from falling much. However, large potential carryout concerns are keeping prices from increasing.
Soybeans have also held to a tight 60-cent price range during October. Like corn, farmers are not selling during harvest and lower than expected yields in the west are keeping a floor under prices. However, Brazil’s next crop is also keeping prices in check.
Interestingly, the trading range for corn and soybeans during this same 3-week time period was very similar to last year. The only difference is that corn is trading $2 per bushel lower this year, while beans are $1 lower.
Want to read more by Jon Scheve? Check out recent articles:
Corn May Be Stuck Trading Sideways, But Beans Could Have Some Upside Potential
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Do the “Quick Ship” High Basis Values Indicate the US Is Out of Corn?
Jon Scheve / Superior Feed Ingredients, LLC / jon@superiorfeed.com
