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Can $3 Corn Hold?

Submitted on Monday, August 15, 2016

Analysts consider the factors that could cause corn to make new lows. The weather market may be over for corn, but farmers may want to batten down their financial hatches in preparation for some very turbulent markets in the weeks ahead. How stormy could it get? Consider last week’s corn markets. “We came within a penny of the 2014 low of $3.18 that was set on September 30th of that year,” said Mike North of Commodity Risk Management Group, speaking on U.S. Farm Report with host Tyne Morgan. “That's a big deal because we've talked about this price for a long time. On the heels of a drought market, it often takes us about four years to find the low. To do that effectively, we need to take out that $3.18 low, so it was a big week in that regard.” Read the full article here.