Corn Report, 12/07/2015

Monday, December 7, 2015

Corn values traded weaker overnight as technicals are beginning to rollover and the USD rebounds from last week’s weakness. Funds covered nearly 21k contracts last week boosting values to the highest levels in the last month. Producers were big sellers of corn and milo on the rally and that trend will likely continue if we see another 5-10 cents added. Despite the selling pressure, the H/K spread remains tight. Today’s export inspection estimates range 300-500k tonnes. US Gulf corn values are now near parity with Argentine values and thus could lead to additional US sales, but we will see what happens when Macri takes office on December 10th. Market action is also a function of the wheat/corn spread and money flow which is adding pressure on the market to begin the week. Values likely will see some additional strength ahead of Wednesday’s USDA report.

Unless otherwise noted, the posts on this blog should be construed as market commentary, merely observing economic, political and/or market conditions, and not intended to refer to any particular trading strategy, promotional element or quality of service provided by INTL FCStone Inc. or its subsidiaries. INTL FCStone Inc. is not responsible for any trading decisions taken by persons viewing this material. Information contained herein was obtained from sources believed to be reliable, but is not guaranteed as to its accuracy. These materials represent the opinions and viewpoints of the author, and do not necessarily reflect the viewpoints and trading strategies employed by INTL FCStone Inc. or its subsidiaries. Reproduction without authorization is prohibited. All rights reserved.

Market Intelligence Free Trial

Meet the Team

Kansas City, MO
1251 NW Briarcliff Parkway
Suite 800
Kansas City, MO 64116
Tel:+1 (816) 410-5079



Our privacy policy has changed. View our privacy policy to learn more.