Tidbits, Corn Correction, Economy, Weather, Broilers & Ethanol 9/5/25
- Wright team
- Sep 5
- 5 min read
Tidbits
Yesterday, December corn opened unchanged at $4.18 (open price) and then traded to $4.14¼ (day low) technical support during the day. Before the close it recovered to $4.21 (day high) and settled at $4.19¾ (close price), up 1¾¢ for the day. Such four prices form a bar or a candle for the chart. Bar/candle charts give you more sense of the trading periods compared to linear charts (where only one price describes a period). We hope you are usually using either bar or candle view to work with a price chart instead of just looking at the last price.
We expected a profit-taking (correction lower) day yesterday or most likely today, but did not expect such a strong recovery the same day as the profit-taking. The corn recovery was independently firm as all three wheat classes, beans, and bean oil were lower all afternoon. Beans and bean oil did manage to trade higher at the end of the day after corn made a new high for the day.
Yesterday’s action sets up an interesting trade for corn today. It most likely will test or take out Wednesday's high and the six week high of $4.24¼ before another round of profit-taking later today. Make no mistake about it, the corn market is attracting a lot of buyers. This is a market to buy the dips and sell the new highs for the move.
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