Tumbling Corn Prices Have More Room To The Downside

Tuesday, 16 July 2024, 21:18

The corn market experienced a significant drop after reaching peak prices in the Spring of 2022. A surge in planting last year resulted in prices hitting $6.30, followed by oversupply from the US and Brazil, causing a sharp decline. US corn storage rose by 16% amid record production, reaching historic levels. With prices at $4 per bushel and break-even at $5.00, farmers are facing storage costs and uncertain prospects. Are new lows in December futures contracts imminent?

Barchart — Tumbling Corn Prices Have More Room To The Downside

Tumbling Corn Prices Overview

Corn market saw steep fall after peaking in 2022.

Price Volatility and Oversupply

Record production in US and Brazil led to surplus.

Farmers anticipated higher prices
Storage costs mount with low prices
Break-even point near $5.00
Potential futures contract lows

This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.

Tumbling Corn Prices Overview

Price Volatility and Oversupply

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