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Weekly Summary & Recommendations 03/09/2022

Corn


Corn Situation after the close 8 March 2022 Even though we expected old crop futures to exceed $7, we recommended pricing 2021 corn when nearby futures were $6.24 to eliminate risk and prepare to buy puts when high is made this spring or early summer to make the money on the way down not made on the way up. May corn made a new high this past week at $7.82¾ and settled yesterday at $7.53.

December corn settled at $6.43¾ on Tuesday 8 March 2022 Price Change Tuesday to Tuesday: up 19 cents 20-month high $6.54¾ made 8 March 2022, 16¾ cents above the Dec corn 2021 high 20-month low $3.68¾ made June 26, 2020 20-month range is $2.85¾

Yesterday’s closing price is: 11 cents below the 20 month high $2.74¾ above the 20-month low USDA's 2020 crop carryout in terms of days’ use: US: 30, world: 94 USDA's 2021 crop carryout in terms of days’ use: US: 38, world: 92

Seasonal Trend is Down Until 1 April, then up into late spring Fundamentals are Bullish Technical Situation is Bullish Price Above Breakeven? Yes Conclusion: Don’t sell

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