
- 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.