The month of July saw corn prices recover after their collapse in June 2018. More broadly, grain markets readjusted to the new reality of global trade relations.
Specific to corn prices though, we continued to see more reports of drought and lower production in the EU.
Front-month corn prices on the September 2018 contract in Chicago in July rose by 3.5% to $3.72 USD per bushel. For December 2018 new crop corn prices, the contract rallied 4.1% to close the month of July at $3.86 USD per bushel.
For our GrainCents readers, we’re watching a variety of factors that might affect corn prices: 3 are bearish, 2 are bullish, and 6 are what we categorize as noise.
(If you’re not familiar with what “noise” is, then we recommend you check out our GrainCents risk management process towards corn prices.)
This month, GrainCents investigated topics such as:
- Our prediction for corn prices in the second half of 2018;
- A boost in corn production, as reported in the July WASDE report;
- If this bullish factor the only hope left for 2018 grain prices?
With a trade war and tariffs creating volatile markets, it’s more important than ever to stay on top of the factors affecting corn prices. Capture market premiums with GrainCent’s sales recommendations and actionable cash grain marketing advice delivered directly to your inbox.
Especially worthwhile in your GrainCents subscription is the Corn Weekly Digest, which gets sent out every Sunday morning. In addition to recapping our cash grain sales position, this chart-fueled read provides an insightful recap of the previous week’s activity in corn markets. We also walk through, in detail, what we’re watching across the global market in the week(s) ahead that could influence corn prices.
Start making more sense of what’s affecting corn prices with a free three-week trial to GrainCents, our exclusive sales recommendation service that holds a 93% success rate on getting farmers the best price possible.