EDWARDS MARKET THOUGHTS

2/29/2024 8:00 am

Corn is having a nice little move higher here, don't get lulled to sleep and miss your opportunity to turn some of this old crop to cash. Premium offers are an option to move some bushels, and I really like the Extended Price Contract to generate some cash and still have upside for that spring seasonal rally.. Also if you are paying storage on DP, stop the storage cost and roll to an EPC contract.. Call for Details!

After a 3 session rebound the corn market is slightly lower as it consolidates.

Michael Regan and USDA Secretary Vilsack will be at the Commodity Classic in Houston on Friday and hence the expectation on Friday is the announcement of the updated GREET model that will be favorable to the ethanol industry to qualify for SAF.

Resistance for May corn toward $4.36 which is 50% Fib retracements of the price break in Feb and then heavy resistance at $4.50. Resistance for Dec corn at $4.75.

 


Charts

 

2/8/2024