History suggests corn price has not hit the high

By Jon Scheve, Superior Feed Ingredients, LLC

May corn started last week down 15 cents, likely due to the tariffs being implemented on the U.S.’s 3 largest trading partners. Friday values rallied on the news that tariffs on Mexico would be lifted for at least a month. This helped May corn finished the week where it closed out last week, but that is still down almost 50 cents from last month.

December corn closed the week at about the same level as the previous week too. This still leaves new crop corn down about 25 cents from the calendar year’s high. Some farmers have been asking, “are the highs for the year already in?”

History says the highs for the year probably haven’t happened

While it’s impossible to know for certain, the following provides some historical insight. The chart below shows which calendar month, in the year the crop was grown, that the December contract hit its high for the last 35 years.… Continue reading