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Weekly Summary & Recommendations 12/20/23

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 situation after the close Tuesday, December 19, 2023:

December corn settled on Tuesday at $4.72¾, -12½¢ since last Tuesday.

The past 7 days’ high was $4.85, the low was $4.71½.

Contract high is $6.85¼ made Apr 27, 2022;

Contract low is $4.70½ made Nov 29, 2023;

Contract range is $2.14¾.

Tuesday’s closing price was $2.12½ below the contract high and just 2¼¢ above the contract low.

USDA’s 2022/23 crop carryout in terms of days’ use: US 36, world 94.

USDA’s 2023/24 crop carryout in terms of days’ use: US 54, world 95.

Pricing factors:

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