Weekly Summary & Recommendations 03/23/2022

Corn

Corn Situation after the close 22 March 2022

Even though we expected old crop futures to exceed $7, we recommended since June 29, 2021 pricing 2021 corn when nearby futures were $6.22 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 2022 corn made a new high on March 4th at $7.82¾ and settled yesterday at $7.53.

December corn settled at $6.70 on Tuesday 22 March 2022

Price Change Tuesday to Tuesday: up 18¾ cents

20-month high $6.70¾ made 22 March 2022, 32¾ cents above the Dec corn 2021 high

20-month low $3.68¾ made June 26, 2020

20-month range is $3.01

Yesterday’s closing price is:

¾ of a cent below the 20-month high

$3.01 above the 20-month low

USDA's 2020 crop carryout in terms of days’ use: US: 30, world: 93

USDA's 2021 crop carryout in terms of days’ use: US: 35, world: 92

Seasonal Trend is down through March, then up into late June

Fundamentals are Bullish

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