May 2018 Corn Prices Recap

Corn prices finished May in the green thanks to ongoing challenges in South America. Let’s take a look at futures contracts in Chicago and their performance for the month.

  • May 2018: +1.2% or 4.7¢ to $3.925 USD / bushel
  • July 2018: +1.1% or 4.5¢ to $4.008 USD / bushel
  • Dec 2018: +1.1% or 4.5¢ to $4.16 USD / bushel
  • Mar 2019: +1.2% or 5.2¢ to $4.235 USD / bushel

December 2018 corn prices hit their highest levels of the year thanks to a string of bullish factors that are driving trader sentiment.

Prices appear to be following a bullish trend and will be aiming to push back top levels not seen since the second quarter of 2016. While exports continue to stay in focus, bullish trends in Brazilian corn production can provide support for higher corn prices (and thus sales) in the summer and fall months.

This month, we specifically focused on:

 

Be sure to sign up for a free 3-week trial at GrainCents as this month could be the most impactful for how and when you price your corn for the rest of 2017/18 old crop supply, as well as a significant portion of your 2018/19 new crop production.

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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