June 2018 Corn Prices Recap

The month of June saw corn prices decline thanks to ongoing trade tensions between the United States and the rest of the world. The weather showed no signs of slowing down crop progress and corn quality remains higher than the five-year average.

Corn prices on the futures board in Chicago for the month of June dropped by 11%.

Corn Futures Price Recap

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 noise (AKA those factors that just aren’t all that relevant yet they keep making headlines).

Also weigh on corn prices in June was the quality of the US corn crop – it’s off to one of its best starts ever. That being said, are we getting a head fake in terms of how big this US corn crop could be? Or are we in a new paradigm of corn yields and production where the technology is so good that it’ll handle pretty much anything Mother Nature throws at it.

This month, for GrainCents readers, we delved deeper into topics such as:

 – A rising US inflation rate

 – Declining US corn inventory levels

 – Dropping Ukrainian corn exports

 – Why organics are still competitive, despite trade disputes

 – StatsCan’s estimates for corn acres in 2018/19

 – The USDA’s estimates for corn acres in 2018/19

Heading into the second half of the year, buyers and sellers of grain need actionable insight to make sense of ongoing trade tensions, supply and demand factors, and market behavior. We’re going to see a few wild swings in corn prices as the summer months progress, and you owe it to yourself to stay on top of the markets.

That’s why we’re offering 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. Sign up right here for your risk-free trial.

About the Author
Brennan Turner

Brennan Turner is the CEO of FarmLead.com, North America’s Grain Marketplace. He holds a degree in economics from Yale University and spent time on Wall Street in commodity trade and analysis before starting FarmLead. In 2017, Brennan was named to Fast Company’s List of Most Creative People in Business and, in 2018, a Henry Crown Fellow. He is originally from Foam Lake, Saskatchewan where his family started farming the land nearly 100 years ago (and still do to this day!). Brennan's unique grain markets analysis can be found in everything from small-town print newspapers to large media outlets such as Bloomberg and Reuters.

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