August is often when the picture begins to clear up on yields and the market begins to gain confidence in the numbers. Although there is a wide range of factors that are exerting influence on the corn marketplace right now, traders are betting on smaller yields than they were earlier in the summer. On Thursday corn futures contracts mostly closed in the five-dollar range, which might have seemed unlikely early in the growing season.
John Heinberg is a Market Advisor with Total Farm Marketing and says the price action for corn shows how quickly things can change in the marketplace.
Heinberg says multiple factors are combining to dictate what is happening in the grain markets.
He adds that producers need to be following the market rally closely and making wise decisions with their grain.
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