[Listen] Gordy Ag Market Recap Corn Down and Up the Limit
What a week especially in the corn market. If you were not paying attention and just looked at the price we began the week and the close Friday afternoon it was about unchanged. You would think it was a boring week of trading in the corn market! But, it was anything but boring. We saw a daily limit move of 40 cents a bushel on two days last week. One was down 40 cents and later in the week up 40 cents a bushel.
I have seen daily limit moves when we are in a major weather market here in the U.S. like in 2012 or 1988. I have seen a limit move down and back up in the same day! But we are not in a major weather market here. We got the crop planted in great shape and have had timely rains. There is a weather market in Brazil for their second crop of corn where there has been some production losses. Some areas received rain this last week after going 40 to 60 days with rain so there has been some losses but no one knows how much.
So, we are seeing this kind of volatility now at makes you wonder what it will be like if there is a serious crop threat here for our crop? Click on the link and listen to Gordy talk about the grain and livestock markets last week.