# Analyst says floor for corn market is well-fortified - Brownfield Ag News

> CHS Hedging analyst Kent Beadle says corn is in the bottom 10% of its decade-long trading range, with a floor supported by farmers' willingness to store rather than sell cheaply. He notes that the crude oil price dip raised speculation of corn falling below $3 per bushel, while reduced ethanol demand continues to weigh and he is optimistic about Chinese purchases under the phase one deal.

- Date: 2020-04-24 · published 2020-04-24T12:00:00.000Z
- Category: market · region US · magnitude low
- Page: https://feedsoft.ai/events/53669-analyst-says-floor-for-corn-market-is-well-fortified-brownfield-ag-news
- Commodities: [Corn](https://feedsoft.ai/c/CORN.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Ample storage and farmer holding support prices near current lows, but weak ethanol demand caps upside; potential Chinese buying is the main bullish offset for feed grain buyers.

## Read by commodity

- WTI: neutral
- CORN: neutral

## Sources

- brownfieldagnews.com: https://brownfieldagnews.com/news/analyst-says-floor-for-corn-market-is-well-fortified/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.