Summary & recommendations for corn, soybeans and wheat this week.
Corn Situation after the close 10 May 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 corn traded above $6.22 on January 25, 2022.
July 2022 corn made its high April 29th at $8.24½ and settled yesterday at $7.75¼.
December corn settled at $7.19 on Tuesday, 10 May 2022
Price Change Tuesday to Tuesday: down 16¼ cents
24-month high $7.57 made 29 April 2022, $1.19 above the Dec corn 2021 high