'07 crop '08 crop Cash-only: 60% 25% Hedgers (cash sales): 60% 25% Futures/Options 0% 0%
GAME PLAN: Corn could face seasonal price pressure as harvest activity accelerates and storage fills up. If your yields are stronger than anticipated, sell the "excess" bushels off the combine. But there should be better pricing opportunities after harvest is done if you have storage and don't need to make sales. Therefore, no additional 2007- or 2008-crop sales are advised at this time.
Corn futures quickly reversed course to start the new month as wheat and soybeans endured a sharp corrective pullback Pullback
A falling back of a price from its peak. This type of price movement might be seen as a brief reversal of the prevailing upward trend, signaling a slight pause in upward momentum. . With yields remaining strong, corn is susceptible to near-term harvest pressure. So far, corn futures have avoided heavy seasonal pressure and basis has held up much better than expected. But with record supplies hitting the market, risk remains that heavy pressure will be felt in both futures and the cash market. Until the bulk of harvest is complete, the upside Upside
The potential dollar amount by which the market or a stock could rise.
This is basically an educated guess on how high a stock could go in the near future.
See also: Bull, Downside is limited for corn futures unless wheat and soybeans provide strong spillover spill·o·ver
1. The act or an instance of spilling over.
2. An amount or quantity spilled over.
3. A side effect arising from or as if from an unpredicted source: support. A heavy wave of fresh speculative buyer interest in the grain markets would favor corn as a value buy. But funds must be encouraged to actively buy corn given the fundamental picture is currently not highly bullish Bullish
Word used to describe an investor's attitude. Bullish refers to an optimistic outlook, while bearish means a pessimistic outlook.
Daily December Corn
Trend is choppy chop·py 1
adj. chop·pi·er, chop·pi·est
Having many small waves; rough: choppy seas.
[From chop1. .
Futures must fill the Oct. 2 chart gap at $3.68 to negate ne·gate
tr.v. ne·gat·ed, ne·gat·ing, ne·gates
1. To make ineffective or invalid; nullify.
2. To rule out; deny. See Synonyms at deny.
3. the island top formation and signal a short-term low is in place. The September high of $3.89 1/2 is resistance when that gap is filled.
The island top formation signaled a short-term top and points futures to a near-term test of the bottom of the summer trading range Trading Range
The spread between the high and low prices traded during a period of time.
When a stock breaks through or falls below its trading range after several days of trading in a range, it usually means there is momentum (positive or negative) building. at $3.24 1/2.
Average Corn Basis
Total Corn Export Bookings
Daily March '08 Corn
Trend is choppy.
Near-term resistance lies at the boundaries of the island top formation at $3.84 3/4 and $4.04 3/4.
The island top formation points futures to a test of support at $3.40.