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WC MN | According to history, every year since 2006 we have taken out the report day close at some point on the December contract. The lowest amount was 7 cents in 14'. I think the highest was in 12' at around $2.70. In years with bigger carryouts the seasonal high seems to come earlier. I also believe 20 out of 21 years we have taken out the January high before expiration of the December contract. I believe there is a gap around $5.03 in the December contract.
Feels like with some catalyst we could now see $5, I didn't think that very possible a couple days ago. I don't know how long it'll last but it will probably be when we are least comfortable selling corn.
Curious what others have for thoughts on any reasonable targets. I would sell 25' crop at $5 as well. | |
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Odds December corn hits $5
