Cornversations: Your Daily Dose of Kernel Knowledge
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This is your Daily Corn Price Tracker with Vanessa Clark podcast.
Hey friend, welcome back to Daily Corn Price Tracker, I am Vanessa Clark, and today we are talking about what is going on in the corn market right now and what it means for you.
Let us start with the numbers. According to Trading Economics, the global benchmark corn price is trading around 4 dollars and 34 cents per bushel today, slightly lower on the day but up about one percent over the past month. GX94 Radio reports March corn futures at about 4 dollars and 43 and three quarter cents, down a penny at the close. So overall, we are still stuck in that mid 4 dollar range.
ADM Investor Services notes that corn futures have really been holding in a band between about 4 dollars and 35 cents and 4 dollars and 55 cents. In other words, this is a sideways market, not a runaway rally and not a crash, which is important if you are making corn marketing decisions.
On the demand side, Brownfield Ag News says corn export inspections are running ahead of last year, with strong buying from Mexico and Japan thanks to competitive corn prices. Tridge also points out that the United States Department of Agriculture is speeding up its weekly corn export sales updates after a backlog, which should give traders and farmers clearer data and reduce some uncertainty.
What does this mean for you if you grow corn or buy corn for feed or ethanol or food ingredients? In a steady, range bound corn market like this, the key is to use that 4 dollar and 35 to 4 dollar and 55 cent range as a guide. If you are a producer, you might look at scaling in small sales when futures push toward the upper end of the range and be patient near the lower end. If you are a buyer, you might lock in a portion of your needs on dips, while leaving some flexibility in case prices soften further.
Also keep an eye on three search friendly terms right now: corn price today, corn futures price, and corn market news. Following those daily can help you time your moves instead of reacting emotionally.
That is it for today’s Daily Corn Price Tracker. I am Vanessa Clark. Thanks for hanging out with me and talking corn like we always do. Be sure to subscribe, share this with a friend who watches corn prices, and tune in next time for your latest daily corn price update.
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