Corn Fundamentals (
ZCZ2023)
Corn Harvest Progress 🚜➡️🌽
â–“â–“â–“â–“â–“â–“â–“â–“â–“â–‘â–‘â–‘â–‘â–‘â–‘ 59%
Export Inspections 🚢➡️🌎
437,549 Metric Tons
⬇️ 29,055 Metric Tons week vs. last week
⬇️ 22,514 Metric Tons this week vs. this week last year
⬇️ 370,24 Metric Tons this week vs. 5-year average
Export Sales
16,176,285 Metric Tons (Cumulative, Current Marketing Year)
⬆️ 2,753,396 Metric Tons this week vs. this week last year
Noteworthy News / Themes
🟢 Argentina is behind pace on Corn planting (12% complete)
🟢 US River levels have improved on the Mississippi river (barge freight down)
🟢 Mexico purchased 117,200 metric tons in a flash sales news announcement
đź”´ The US still has a +2 billion bushel carryout
đź”´ Corn failed to stay above $5.00 futures
🟢 Dry forecast in Argentina
đź”´ Wet forecast in Brazil
Corn Technicals
Corn couldn't settle above $5.00 for too long given the ample expected carryout being priced into the market in the middle of harvest. Consider the sales that were sold above $5.00 as a gift to the farmers and we hope farmers prices some bushels.
Outside of this, there really isn't much to say anymore about this market except that after 3 years of a bull market, we're finally getting back to reality and reality in the grain market is quiet.
Watch the following levels for now👇
🟢 Current Upside Target: 5.00
đź”´ Current Downside Targets: 4.74, 4.675
ZCZ2023)Corn Harvest Progress 🚜➡️🌽
â–“â–“â–“â–“â–“â–“â–“â–“â–“â–‘â–‘â–‘â–‘â–‘â–‘ 59%
Export Inspections 🚢➡️🌎
437,549 Metric Tons
⬇️ 29,055 Metric Tons week vs. last week
⬇️ 22,514 Metric Tons this week vs. this week last year
⬇️ 370,24 Metric Tons this week vs. 5-year average
Export Sales
16,176,285 Metric Tons (Cumulative, Current Marketing Year)
⬆️ 2,753,396 Metric Tons this week vs. this week last year
Noteworthy News / Themes
🟢 Argentina is behind pace on Corn planting (12% complete)
🟢 US River levels have improved on the Mississippi river (barge freight down)
🟢 Mexico purchased 117,200 metric tons in a flash sales news announcement
đź”´ The US still has a +2 billion bushel carryout
đź”´ Corn failed to stay above $5.00 futures
🟢 Dry forecast in Argentina
đź”´ Wet forecast in Brazil
Corn Technicals
Corn couldn't settle above $5.00 for too long given the ample expected carryout being priced into the market in the middle of harvest. Consider the sales that were sold above $5.00 as a gift to the farmers and we hope farmers prices some bushels.
Outside of this, there really isn't much to say anymore about this market except that after 3 years of a bull market, we're finally getting back to reality and reality in the grain market is quiet.
Watch the following levels for now👇
🟢 Current Upside Target: 5.00
đź”´ Current Downside Targets: 4.74, 4.675
Trade chiuso: obiettivo raggiunto
4.74 Target reached âś…
Declinazione di responsabilitĂ
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.
Declinazione di responsabilitĂ
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.