Difficult to Feed the Corn Bull

January 10, 2017 2:56PM CST

The U.S. corn crop is big. Now, the Brazilian 2016/2017 corn crop is getting bigger according to CONAB. South American weather, so far, is good. With the negative supply information, the corn market hasn’t broken. This could be due to fund buying before the next USDA report. Some analysts are saying this report will cut I’s estimate of the US corn harvest. Even if this reduction is done, the world still has plenty of maize. Also, producers haven’t sold a lot as they are still waiting for higher prices.

The market will need an increase in supply side issues, such as more business, possibly weather related problems, and an increase in feed demand. Right now, corn is in a trading range. Range in March Corn is 3701-350.

 

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.