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Corn futures stuck in neutral

An extension grain marketing economist suggests having the corn market stuck in neutral is a positive.

Ed Usset with the University of Minnesota says corn futures can’t decide to go up or down.

“I guess we should be encouraged by the fact that it’s stabilized some.  It’s not going any lower.”

December corn has been trading between $3.60 and $3.70 for several weeks.

Once the U.S. harvest is complete, he tells Brownfield attention will turn to South America.

“The corn crops being grown in Brazil and Argentina.  I’m hearing they could be good-sized (which) is not a good thing (for U.S. prices).”

Usset says beyond the next South American crop, the corn market will be watching demand and U.S. planting intentions for 2019.