Same story, different day, grain markets are waiting to hear news about either China tariff negotiations or NAFTA compromises. Though, markets are up four for both corn and soybeans, after China announced dropping anti-dumping duties for sorghum.
Over the past month corn has pretty well stayed within a dime either direction of where we are currently trading around $4.00 on the nearby board. With planting about to make great strides this week, there will be low likelihood that there’ll be a planting rally. Start watching for weather concerns in areas of the Midwest, which could add some premium.
Make sure to take some time while planting to think on offers and sales for both old and new crop corn. Currently cash levels are sitting around $3.80 for August and $4.00 for January.
Have a Great Day!