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Barchart
Barchart
Darin Newsom

Is a Long-Term Bottom Forming in the Corn Market?

  • As of Thursday morning (September 28), the corn market was giving conflicting signals as to whether it was forming a long-term bottom.
  • The intrinsic value of the market remained under pressure, due to weakening national average basis, while the December 2023 futures contract was in position to complete a bullish reversal.
  • Ironically, Friday's settlement, the end of the month, will likely come down to whatever number USDA releases for its September 1 corn stocks on hand.
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