What’s going on with corn? That’s the question making the rounds after the July corn contract dipped this week. The shift is sudden, and according to Ted Seifried, chief market strategist at Zaner Ag Hedge, it could signal more corn out there than we thought — or just a lot less buying interest.
Speaking with RealAg Radio, Seifried unpacks what’s behind the market’s price swing. “It’s not just a chart move. The July contract has really fallen apart,” he said, adding that the inverse — once 40 cents over December — has all but vanished. (Editor’s note: The July contract is indicative of old crop sentiment, and December corn signals new crop direction)
Here’s the scoop from the segment:
- Corn cracks lower – July prices slide, flattening the July–December spread and raising questions about old crop tightness
- More corn on hand? – The move could mean USDA might need to revise last year’s production up. Watch Monday for the updated numbers
- Seifried notes that corn end-users aren’t exactly clamouring for July bushels — especially with new crop acres going in fast and early
- “There’s a lot going on — weather, exports, planting progress — but something just doesn’t quite add up,” on corn supplies, he says
- Soybeans hang steady – Despite sky-high Chinese tariffs, beans are buoyed by tight supply and non-China export demand. A depreciating U.S. dollar has driven soybean buying by importers
- Will soybean acres increase? Possibly with good planting conditions and corn’s turn to the downside
- Wheat’s still a snooze – Crop conditions improved, Russia raised its forecast, and prices can’t seem to find a spark.
Fast planting pace and a quiet cash market could also be part of the story.
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