Weekly Summary & Recommendations 9/25/24

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:

https://www.wrightonthemarket.com/post/how-to-decide-when-to-price-grain

Corn

Corn situation after the close Tuesday, September 24, 2024:

December corn settled yesterday at $4.11¾, -¾¢ since last Tuesday.

The past 7 days’ high was $4.18¼, the low was $4.01¼.

Contract high is $5.90 made June 17, 2022;

Contract low is $3.85 made August 26, 2024;

Contract range is $2.05.

Tuesday’s closing price was $1.78¼ below the contract high and 26¾¢ above the contract low.

USDA’s 2024/25 crop carryout in terms of days’ use: US 50, world 92.

Pricing factors:

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