Corn Commentary

John WalshGeneral Commentary, Grains

Commentary: The corn has dropped recently. There are real concerns over the shuttering of the Bio industry. This, if prolonged, will lead to an accumulation of corn stocks, potentially. The Covid shut down extension does not help this thought. The Chinese have been buyers of US corn, up to 1 mil tns. There is thought they may buy 1.5 mmt more in the near term. The recent decline of corn both flat price and relative to beans could induce some acreage switches before planting. In addition, weather reports from the South could indicate cool wet weather for the next two weeks. This could be a supportive factor if this becomes a bit protracted (remains to be seen, however). The corn market most likely will not see any acreage shifts tomorrow, however the stocks will be awaited. Let’s see what tomorrow brings.

Trade Suggestion(s)
NA today
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John J. Walsh
President, Walsh Trading, Inc.

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