5/8/2024 8:00 am

Corn market is slightly lower as buying pace slows into strong farmer selling. Interior corn basis levels have weaker tone as end users extend coverage into June. Corn spreads softening with the increased cash movement and slowing fund short-covering.

Weather maps has the Euro model drier than GFS model for the Midwest and gives a longer window of dry weather next week to allow fieldwork. GFS model though has rains moving in early to middle of next week. Please be right Euro!!

Weekly EIA report is out today with weekly grind rates expected to be steady to up slightly while ethanol stocks are expected to decline
again.

Support for Dec corn toward $4.75. Support in July corn toward $4.60-4.58.

Technical traders noting a doji signal in Dec corn, which typically notes a changing trend pattern or correction!

4/11/2024

 USDA April Report!!