Corn Dips Below $8.00 In Early Trading

Posted on August 28, 2012

Corn is trading a hair under $8.00 this morning as more market participants take profits and perhaps get a stronger sense of the shift in demand for US corn. Allendale’s Paul Georgy talked about a possible top in corn prices in his AM note this morning. A few other hot links.

 Robusta Coffee Beats Arabica as Folgers Cut Prices:  Robusta is beating arabica for the first time in four years as roasters use more of the cheaper grade and farmers reap fewer beans in Vietnam, the top grower…Read More

Euro Advances as Spain Sells More Bills Than Target; Krone Gains: The euro rose for the first time in three days against the dollar after Spain sold more bills than its maximum target at an auction amid speculation the European Central Bank is readying measures to counter the debt crisis…Read more

Early trading prices (per bushel unless otherwise stated)

Contract Commodity Last Change
Dec 2012 Corn $7.9850 -0.0225
Dec 2012 Wheat $8.8000 -0.0125
Nov 2012 Soybeans $17.1175 -0.0675
Sept 2012 Soybean Oil (Metric Ton) $55.7200 -0.1900
Sept 2012 Soybean Meal (Metric Ton) $531.5000 -0.3000

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The Author of this post has a bear credit spread in Corn. Neither the author of this article or any family members own any futures contracts or options on futures in any of the other commodities mentioned in this article. For a complete disclosure of the policy on ownership of stocks/commodities written about or recommended, please see about page.