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“Summer high” for December corn coming soon

A market analyst is encouraging farmers to prepare for a seasonal high in corn futures.

Naomi Blohm with Total Farm Marketing says over the past 17 years, the summer price high for the December new crop corn contract occurred five times in May, seven times in June, and five times in July.

“In more recent years that price high has been more in that May, June timeframe. So part of it depends on weather conditions, part of it depends on planting progress, some of it depends on the outlook for summer weather forecasts.”

She tells Brownfield this historical trend should help inform marketing decisions.

“To have some confidence to make sure they’re thinking about cash sales during the upcoming weeks, because we’re approaching that window. And then people are going to be busy planting, so just want to make sure folks are thinking about it, they’re mindful of it.”

Blohm says a potential market mover comes May 12^th when USDA provides its first new crop yield estimates.