Kernel of Truth: Record Corn Supply Keeps Prices Down as Bargain Hunters Circle copertina

Kernel of Truth: Record Corn Supply Keeps Prices Down as Bargain Hunters Circle

Kernel of Truth: Record Corn Supply Keeps Prices Down as Bargain Hunters Circle

Ascolta gratuitamente

Vedi i dettagli del titolo

A proposito di questo titolo

 https://www.instagram.com/vanessaclarkipai

This is your Daily Corn Price Tracker with Vanessa Clark podcast.

Welcome back to Daily Corn Price Tracker with Vanessa Clark. I'm your host, and today we're breaking down what's happening in the corn market as we close out Thursday, January 15th.

Let's jump straight into the numbers. March corn futures closed down one and three quarters cents, settling at four dollars and twenty and a quarter cents per bushel. Now, that might sound like a small move, but in the commodity world, every penny counts, especially when farmers are watching their bottom lines so closely.

Here's what's driving today's action. The corn market is still digesting the shock from Monday's USDA report, which projected a massive seventeen billion bushel corn supply for the twenty twenty five to twenty twenty six marketing year. That's the largest supply on record. According to AgMarket dot Net, the market is experiencing some technical selling pressure because buying interest remains limited by what they're calling a bearish chart posture combined with this week's dour USDA supply and demand data.

But it's not all doom and gloom. We did see some positive activity this week. Weekly US ethanol production came in at a record high of one point one nine six million barrels per day. Additionally, Japan and South Korea have been active buyers of US corn and soybean meal this week. These international buyers are stepping in to purchase US corn at what they view as bargain prices, which is providing some support to the market.

Looking ahead, analysts expect rallies to be initially sold as there's still a massive amount of US corn that needs to get sold and moved before the end of summer. It would take a major weather event in Brazil or the US to spark a meaningful rally in the corn complex.

For those tracking support and resistance levels, March corn support sits at four dollars and ten cents, which marks the August twelfth low. Resistance comes in at four dollars and twenty five and a half cents from the October fourteenth low.

The key takeaway here is that while we're seeing some stabilization in corn prices after the bearish shock from the USDA report, the underlying fundamentals remain challenging. Record supply and limited near term catalysts suggest that corn prices will likely face downward pressure in the months ahead.

Thanks so much for tuning in to Daily Corn Price Tracker. Be sure to subscribe and join us tomorrow for the latest market updates and analysis. Until next time, I'm Vanessa Clark.

For more http://www.quietplease.ai

Check out Vanessa on Instagram https://www.instagram.com/vanessaclarkipai
For some deals, check out
https://amzn.to/4hSgB4r

This content was created in partnership and with the help of Artificial Intelligence AI
Ancora nessuna recensione