Will U.S. government step in to make concessions?
Corn prices have stabilized as of this morning, reportsCorn+Soybean Digest, but the JUL18 contract has recently traded from a high just above $4.12 per bushel, set back on May 24th, to a low set yesterday at $3.38^6.
The new-crop DEC18 contract touched $4.29^4, also on May 24th, and has since fallen to a yesterday's fresh new low of $3.60 per bushel. The only bright spot is the fact we rallied back some +15 cents off the lows.
There's some talk that the U.S. government could step in and make some concessions to U.S. farmers and buy U.S. supply.
US Corn Price Idx:ZCPAUS.CM
open: 6.9023
high: 6.9023
low: 6.6848
close: 6.7926
US Soybean Price Idx:ZSPAUS.CM
open: 15.1216
high: 15.1241
low: 14.6083
close: 14.6678
US Hard Red Winter Wheat Price Idx:KEPAUS.CM
open: 8.2924
high: 8.3954
low: 8.0848
close: 8.1154
US Soft Red Winter Wheat Price Idx:ZWPAUS.CM
open: 7.5497
high: 7.6775
low: 7.4014
close: 7.4256
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