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Corn futures have consolidated in a narrow range while cash basis levels are rising sharply. Low test weights, below-normal yields and high moisture are tightening supply, with the author suggesting yields may be closer to 165 bushels per acre than USDA's 168.
Strong cash basis and tight physical supply signal firmer corn prices for feed buyers despite flat futures.
hpj.comHPJ StaffJan 31, 2020After 1,040 past bullish report events, Corn moved a median +0.5% over 5 sessions (62% higher; middle half -0.9% to +2.0%), and +0.8% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
