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

Buyers find U.S. corn a bargain

12/27/2013 @ 4:22pm

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 +

Corn Price Pressure Seen Ahead, Analyst Says By: 01/19/2015 @ 9:00am March corn closed higher Friday in an attempt to get back some of the losses from earlier in the…

Alendale: Grain, Hog Outlook By: 01/09/2015 @ 3:37pm Beans closed out the week on a slightly higher note, with the front month contract closing up 4…

Soybean Market Seen As Overvalued By: 01/02/2015 @ 2:56pm The soybean market started the New Year the same way it ended last year, on a negative note. The…

MEDIA CENTERmore +
This container should display a .swf file. If not, you may need to upgrade your Flash player.
Will Plants Tell Us They are in Danger?
Agriculture.com

FREE MEMBERSHIP!

CLOSE [X]