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Corn market range-bound

The corn market continues to trade in a narrow price range.

University of Minnesota Extension grain market economist Ed Usset says the December 2022 contract has moved sideways since harvest began.

“It’s really been in a 40-cent trading range, even pretty much narrower than that, more like a 25-cent trading range for two months. And looking for a way out.”

He tells Brownfield a lack of demand is limiting upside.

“We look at the numbers, that is the stocks and the anticipated usage and the stocks at the end of the year, and everything flashes a green light bullish. But we’re not seeing the demand to make that happen.”

Usset says the higher dollar is a culprit, but points out the overall supply situation remains tight and will continue to support the corn market.