There are always psychological lows and highs in markets. For corn, prices in the three-dollar range happen, but an analyst with some experience will tell you to watch for $3.01.
That’s because if we dip below $3.01, there’s no telling where it goes next. As Marlin Bohling, markets editor with RFD-TV explains, that $3.01 mark is a historical support number.
In the interview below, Bohling and RealAg Radio host Shaun Haney delve into the grain markets this week, how corn has fared (and flirted with the $3 mark), what’s happening with crude oil prices, ethanol demand, and corn acres.
Bohling says that it’s certain we’ll see far less corn than the 97 million acres pegged in the last USDA report, but how much less, and how many of those acres go to soybeans or sorghum (in cotton regions), or some other crop remains to be seen.
Listen on for the full discussion, below: