Tidbits, Q&A: Price drop, Export Sales, Markets & Rain Days Update 4/28/23

Repeating 2013? Market outlook

2012 was the sixth Corn Belt wide drought since 1900. The other five were in 1934, 1936, 1980, 1983, and 1988. Corn and bean futures made their all-time high trade in 2012.

December 2012 corn traded to $8.49 on August 10th and then December 2013 corn traded to $4.10 in October 2013.

https://www.barchart.com/futures/quotes/Zcz13/interactive-chart

November 2012 beans traded to $17.89 on September 4th. By the fall of 2013, November 2013 beans were down to $11.75 in August 2013.

https://www.barchart.com/futures/quotes/Zsx13/interactive-chart

KC wheat made its high at $9.57 on July 19th, 2012 and spot December 2013 KC wheat was down to $6.93 in November 2013.

https://www.barchart.com/futures/quotes/KEZ13/interactive-chart

Yesterday, Will asked: "What keeps this year from repeating 2013?"

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