Be mindful of the July corn futures “summer high”

A market analyst reminds farmers there could be marketing opportunities ahead for July corn futures.

Naomi Blohm, senior market advisor at Total Farm Marketing, tells Brownfield fifteen of the past 24 years the “summer high” has come in June.

“Sometimes the high occurs early in June, sometimes it’s in conjunction with the June WASDE USDA report.”  She says, “Sometimes the high occurs after the June 30th final planted acres report, and then you get a price rally after that. So, you have to just really be on your toes.”

She says it typically follows market fundamentals.

“The one outside market snafu that occurred was when President Trump had introduced the tariffs to China.”  She says, “That put in a marketing year high earlier in May. So, there can be outside influences that factor things too, but a lot of times it’s actual weather or market fundamentals that dictate price highs.”

Blohm says farmers should be mindful of trends and remember past market performance is not always indicative of future results.

AUDIO: Naomi Blohm – senior market advisor at Total Farm Marketing

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