Home / Markets / Markets Analysis / Corn market / Buyers find U.S. corn a bargain

Buyers find U.S. corn a bargain

Updated: 12/30/2013 @ 4:45pm

This week’s export sales report was delayed a day and came in huge this morning for corn. Trade had expected sales of 550K to 750K, and instead sales of 1988K were seen! That is more than double the high-end estimate that analysts had for this report.

But there are two likely reasons why corn did not rally on this news today. First, it is important to remember that these were sales made from last week when corn was down, threatening contract lows and slowly moved higher.
 
Once again, this report shows that buyers are fully willing to buy bargain price levels but have not shown signs that this buying stays aggressive once corn bounces. A second likely reason why there were not more buyers was simply that we are still seeing holiday volume where very few traders participated today. 

CancelPost Comment
MORE FROM RICH NELSON more +

Quiet End to Volatile Week By: 08/28/2015 @ 3:36pm Soybean Commentary08/28/2015After a crazy, volatile week, the beans market ended on a rather quiet…

Cattle on Feed Near Trade Estimates By: 08/23/2015 @ 5:18pm Cattle CommentaryFor 08/21/2015At the time of this writing, the S&P 500 is 7.5% off the summer…

Tyson Closure Weighs on Cash Cattle By: 08/17/2015 @ 1:25pm Tyson announced the immediate closing of its Denison, Iowa, slaughter plant Friday. This facility…

MEDIA CENTERmore +
This container should display a .swf file. If not, you may need to upgrade your Flash player.
John Deere High Capacity Nutrient Applicator
Agriculture.com

FREE MEMBERSHIP!

CLOSE [X]