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Corn: March corn settled up 3 ¼ cents at 3.72 ¾. This settlement is just ¼ cent below Monday’s 2-week high settlement at $3.73. Corn opened quietly, posted an early low and then moved higher in a narrow 4 cent trading range. Corn followed soybeans today in thinly traded, pre-holiday chop. The funds continue to hold a decent size short bet of 85K contracts. Bulls have touted dryness in South Africa as they are winding up their planting efforts. Looking at the charts, CH “tested” the $3.65 level four separate times in the past 3 weeks. Looking at the forest vs. the trees, CH has […]

October 28, 2015 Written by Chris Robinson Corn: December corn settled down 4 cents at $3.76. Corn opened lower and traded lower as once again we had zero follow through to the upside in the wake of Tuesday’s 2-1/2 week high tick at $3.87 ½. Looking for positive action today, I can say it was nice we didn’t test last Tuesday’s 6-week low at $3.72. The market seems content to chop sideways until the USDA on November 10th which we will get in just 8 more business days. The managed funds have cut their long bet down to just over $35K contracts; this pales to […]

October 16, 2015 Written by Chris Robinson Corn: December corn settled up 1 ¼ cent at $3.76 ¾. Corn came under pressure overnight and into the first half hour of trade, when CZ fell to a new 5-week low at $3.72 ½. With no follow through selling, CZ chopped back a nickel from the lows to finish near the high. For the week, CZ dropped 6 cents. On the longer-term weekly charts, CZ posted its lowest settlement in 4 weeks. Exports came in at 22 million bushels; for the marketing year, export commitments total 427.4 mil/bu. This is a disappointing 243 million bushels less than […]