Tidbits, Corn Marketing Plan Discussion 4/4/26

Tidbits

Baker Hughes reported there were 548 oil and gas drilling rigs in operation last week in the USA. That is 5 more than last week but 42 fewer than a year ago. Canada had 142 rigs drilling this past week, which was 11 fewer than a week ago and 11 fewer than a year ago. Worldwide, there were 1058 rigs drilling at the end of March, 54 fewer than the previous month and 37 fewer than a year ago.   

CGB at Gladstone Bluff, Illinois (on The River) Friday evening compared to last week:

• Corn spot delivery: -19K (19 under May), 6¢ firmer = $4.34

• Fall delivery: -40Z (40 under December), steady = $4.42

• Soybean spot delivery: -42K, 9¢ firmer = $11.22

• Fall Delivery: -47X (47 under November), steady = $11.07    

---

Corn Market Plan Discussion

About 4 weeks ago, we sent you Roger’s suggested corn market plan for those who cannot afford or do not want to take the price risk of the new crop corn falling well below breakeven like it did the past two years. The plan was simply executing an HTA no later than 21 June, but probably in mid-May for a high percentage (70 to 80%) of expected production. The suggested target was Dec 2026 corn at $5.05 for HTA and then place the following open order for December put options with your merchandiser or in your own options account:

Strike  Premium

Price   (Cost)

$4.80   15¢

$5.10   15¢

$5.40   15¢

$5.70   15¢

$6.00   15¢

One of our clients shared this plan with his second market advisor and then shared with us the second advisor’s comments, which we commented on also. Here are the two plans with the two advisors’ comments:    

Want to read more?

Subscribe to wrightonthemarket.com to keep reading this exclusive post.

Subscribe Now