News

Strong corn condition keeping prices rangebound

A grain marketer says if corn condition remains favorable it is unlikely a strong rally will take place over the next few weeks.

“If we maintain these 70 plus good to excellent corn crop ratings across the country as we move ahead, you’re probably likely to see some continued pressure.”

Angie Setzer with Michigan-based Citizens Grain tells Brownfield June is seasonally the best time to market crops even with weather models driving the market.

“We’ll see some buyers come in and push it up a couple of cents only to introduce some additional selling to push it back down really just based on whatever weather model is released.”

Setzer anticipates Brazil’s corn crop is a bit smaller than what USDA is projecting based on export data and domestic demand which she says could provide some strength once final reports are made.