Big Crops Get Bigger as Demand Remains

November 23, 2016 8:33AM CST

Corn has continued to rally without any major setback. Some of the strength has been helped by the extreme firmness of the soybeans. Also, keep in mind that U.S. corn is still the cheapest for export. The continuing demand will have to be watched as the U.S. Dollar continues to strengthen. The firm dollar makes our products less attractive for export.

At this point, the supply side is not a problem. The U.S. harvest is pretty much done with no major quality issues. South American weather, at this time, is not a problem. The planting is about done.

Corn prices will have to be fed more bullish news for the rally to continue. The relative strength is about neutral. If the economy expands and more inflationary ideas come into play, agriculture price will continue to firm.

Corn Daily

RJO Futures | 222 South Riverside Plaza, Suite 1200 | Chicago, Illinois 60606 | United States
800.441.1616 | 312.373.5478

This material has been prepared by a sales or trading employee or agent of RJO Futures and is, or is in the nature of, a solicitation. This material is not a research report prepared by RJO Futures Research Department. By accepting this communication, you agree that you are an experienced user of the futures markets, capable of making independent trading decisions, and agree that you are not, and will not, rely solely on this communication in making trading decisions.