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Grain Navigator - July 4 , 2024 - CORN

Grain Navigator

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The PDF Version is complete with Charts and Graphs Way more information.

Grain Navigator_Corn_ July 4-24
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It’s super easy to get a grain price.

However, what is not easy is knowing whether the Decision to Sell is good or bad.

By using a combination of Fundamentals, Technical charting and good old common sense, a picture of the market can be created. This gives solid guidance to where the market may go.  Try the Grain Navigator Today!




 
Below are some excerpts of this issue of the grain Navigator. Download PDF Version for more.

Market Overview

Both corn and barley have very large ending stocks this year.  In the fall of 2023, US corn production was estimated to be 2 billion bushels more than previous estimates. This cratored the corn price and along with it the Canadian barley price. The low corn price essentially destroyed Canada’s domestic consumption of barley.  

Over the Horizon

Corn has been so beaten up in the last 2 years it is finally starting to find a bottom at around $4.25. For corn to reverse its downward trend there needs to be some fundamental news. If corn fails to meet trendline projections it would suggest that 4.25 is the bottom and a new higher trading plateau be formed. This new plateau could easily be 25 cents higher than last year. 

CAD Barley. There is still a glut of barley on farms which will keep supplies artificially high. This means that Canadian barley will trade at a greater discount to corn compared to previous years. Don’t expect barley to rally significantly. There might be a bump of 50 cents. 

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Insight AG Marketing makes grain marketing easier, more profitable and way better. In lots of ways we help farmers enjoy farming more.



Grain Navigator

Download Complete Version PDF:

The PDF Version is complete with Charts and Graphs Way more information.


Grain Navigator_Corn_ July 4-24
.pdf
Download PDF • 1.63MB

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