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Weekly Summary & Recommendations 11/8/23

Grain market summary of price outlook, seasonal situation, fundamental & technical analysis with our recommendations for corn, soybeans and wheat (Soft Red Winter, Hard Red Winter & Spring) for past week Wednesday to Tuesday.


Explanation of our approach:



Corn


Corn situation after the close Tuesday, November 7, 2023:


December corn settled on Tuesday at $4.68½, -10¼¢ since last Tuesday.

The past 7 days’ high was $4.81¼, the low was $4.68.


Contract high is $6.79¼ made Apr 27, 2022;

Contract low is $3.97½ made Dec 15, 2020;

Range is $2.81¾.


Yesterday’s closing price was:

  • $2.10¾ below the contract high;

  • $0.71 above the contract low.


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