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$5 old crop corn sparks farmer selling

An ag economist says there’s been some back-and-forth movement in the commodity markets this week.

“We’re down $.20 if we did a Monday-to-Monday trade,” said Ben Brown with the University of Missouri.

Brown says expectations have been bullish. “Over a month and a half of an extended rally,” he said. “This is the correction that is coming with it. We got into that air above $5 old crop corn and it caused a little bit of farmer selling.”

He tells Brownfield funds are extremely long, especially for corn. “It’s been the corn market and feed grains in total that’s pulled the complex lower.”

Brown made his comments during Brownfield’s Weekly Commodity Market Update, which can be viewed below.