Farm Progress

Corn prices fall again

Could the rumors come true?

Kevin Van Trump

June 20, 2018

1 Min Read

Corn prices have stabilized as of this morning, but the JUL18 contract has recently traded from a high just above $4.12 per bushel, set back on May 24th, to a low set yesterday at $3.38^6.

The new-crop DEC18 contract touched $4.29^4, also on May 24th, and has since fallen to a yesterday's fresh new low of $3.60 per bushel. The only bright spot is the fact we rallied back some +15 cents off the lows. There's some talk that the U.S. government could step in and make some concessions to U.S. farmers and buy U.S. supply.

Again this is only rumor and talk, as the bulls are clearly grasping at straws. Not only have negative trade headlines weighed heavily on the trade, but the recent weather improvements are also adding heavy pressure. The hot and dry conditions that many producers have been experiencing are now becoming cooler with much more widespread precipitation.

Currently there's just not a lot of nearby reasons to step in as a big bull in the market, especially if you think trade headlines could become more negative nearby. This is a crazy bet... Who's going to flinch first seems to be the question? 

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About the Author(s)

Kevin Van Trump

Founder, Farmdirection.com

Kevin is a leading expert in Agricultural marketing and analysis, he also produces an award-winning and world-recognized daily industry Ag wire called "The Van Trump Report." With over 20 years of experience trading professionally at the CME, CBOT and KCBOT, Kevin is able to 'connect-the-dots' and simplify the complex moving parts associated with today's markets in a thought provoking yet easy to read format. With thousands of daily readers in over 40 countries, Kevin has become a sought after source for market direction, timing and macro views associated with the agricultural world. Kevin is a top featured guest on many farm radio programs and business news channels here in the United States. He also speaks internationally to hedge fund managers and industry leading agricultural executives about current market conditions and 'black swan' forecasting. Kevin is currently the acting Chairman of Farm Direction, an international organization assembled to bring the finest and most current agricultural thoughts and strategies directly to the world's top producers. The markets have dramatically changed and Kevin is trying to redefine how those in the agricultural world can better manage their risk and better understand the adversity that lies ahead. 

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