Corn prices likely to continue lower

By Jon Scheve, Superior Feed Ingredients, LLC

The corn market has been in a holding patten. The market is stuck between not knowing what weather will be like later this month and knowing a lot of old crop is being stored by farmers.

Where will prices go from here?

Historically, corn prices go down over the summer unless there are widespread drought conditions, which is rare. As I shared previously, in 11 of the last 15 years, the value of December corn in late November was lower than ANY value traded in the previous May or June.

In 2 of the 4 years when the market went higher after June, it was because the planted acres decreased in the June report from the March intentions report, which did not happen this year. In the other 2 years there were widespread dry conditions across the country, something that as of today is not occurring.… Continue reading