The general consensus at the recent Barchart meetings I had the opportunity to take part in was that the corn market seemed ready to turn.
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This makes sense if we apply technical, seasonal, and price distribution analysis to our long-term investment positions.
Don’t Miss a Day: From crude oil to coffee, sign up free for Barchart’s best-in-class commodity analysis. The question comes to fundamentals, where the market is not, nor has it been, as bearish as USDA's latest round of guesses.
As you know, when it comes to long-term investments, my go-to market is Corn. When dealing with the futures market, I prefer to track the more heavily traded December contract (ZCZ25) only, rolling positions forward and back based on the long-time investor favorite Dec-Dec corn futures spread. As I talked about in late July, I had the opportunity to take part in Barchart’s Grain Merchandising and Technology meeting in Ames, Iowa and Manhattan, Kansas. The consistent theme in both discussions, with Thomas Call of Mid-Co Commodities and Guy Allen of Kansas State University, was that Dec25 corn was drawing near to a bullish turning point.
