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Corn Trading

corn trading information site

Corn Trading Defined and Explained

Trading in the corn market is appealing because of the wide scope of products for which corn is used for. In addition to its primary use as a feed for livestock including cattle, hogs and poultry and its use as a food for human consumption, an increasingly large share of U.S. corn production is now used to produce ethanol for fuel. Among the many widely used byproducts into which corn can be transformed are corn oil, corn starch and corn sweeteners used in soft drinks in the food area and absorbing agents for disposable diapers and adhesives for paper products and plastics in the non-food area.
 

 

Corn Prices & Rates

The Chicago Board of Trade is the premiere corn futures trading exchange in the world today.

  • The pricing unit for corn futures trading is dollars and cents per bushel with a minimum price fluctuation of one-quarter of a cent per bushel or $12.50 for a full-size, 5,000-bushel contract.

  • The CBOT also offers a mini-sized corn futures contract of 1,000 bushels (about 25 metric tons).

  • Corn futures contract months are March, May, July, September and December..
     

 

Corn Trading Supply Information

Varieties of corn are grown in a number of areas of the world including Brazil, Argentina, China and elsewhere, but corn futures traded at the CBOT are based on U.S. production. Much of the U.S. corn crop is grown in the Corn Belt stretching from Nebraska to Ohio and from Minnesota to Missouri. The number of acres planted is a critical starting point for the size of the U.S. corn crop. Compared to other feed grains and soybeans, input costs for corn are higher, and prices for fertilizer, fuel and other input items sometimes influence farmers to plant other crops that have lower production risk. When all goes well, corn can also produce the highest return per acre. Most of the corn in the Corn Belt is planted in April-May. The most critical period for determining yields and the amount of corn production in a given year is during July, when pollination typically occurs. Although other crops can recover from unfavorable weather conditions, corn is especially subject to yield losses from hot, dry conditions during this 2-3 week pollination period. Most of the corn harvest takes place in October-November. About 90-92 percent of planted acres are harvested for grain with the remainder being cut for silage, abandoned due to the effects of weather or not used for grain production for some other reason. The timing of these periods depends, of course, on the planting and emergence dates of the corn crop and the progress the crop makes during the growing season.

See how VantagePoint Software can predict the Corn Trading market with up to 86% accuracy* - Get Free Corn Forecasts now.
 

Corn Trading Usage Information

Most of the U.S. corn crop has been consumed as feed by cattle, hogs or poultry in the past, but corn usage is now split about evenly between feed for animals and food/industrial uses. The reason for the jump in food/industrial use is due the increase in the amount of corn used in ethanol production, accounting for roughly a third of the annual U.S. corn output. About 2 billion bushels of U.S. corn is exported annually as the United States is the worlds largest corn supplier by far. Other export suppliers include Argentina and Brazil and, to a lesser extent, South Africa and Thailand.

 

Corn Trading Strategy

When trading corn futures, seasonal analysis can be a powerful asset. Depending on yield prospects and the total supply of corn available, corn futures prices tend to weaken going into and during the early part of the fall harvest season. Then as corn moves into grain bins and demand picks up from larger animal numbers and exporters trying to get corn into position to ship, corn prices begin to pick up. Sometime after the first of the year, the so-called February break causes corn prices to decline again. As the planting season approaches and the market tries to buy corn acres, corn futures prices firm up until the market sees how the crop is doing. Summer often produces a number of rallies and subsequent setbacks based on weather or the latest forecast. Obviously, the typical seasonal corn price pattern is subject to change, depending on conditions, but it gives corn futures traders and hedgers a road map to follow by tracing the average behavior of the corn market in the past.

Corn Trading News

The U.S. Department of Agriculture releases a number of reports related to corn supply and usage. The annual crop summary in January sums up the final production numbers from the previous year and reveals the stocks of corn in all positions as of the end of the year. The first big report for the new season is the planting intentions report released at the end of March. The planted acreage report at the end of June reveals how many corn acres were actually planted. USDA releases updated supply/usage estimates every month around the 10th of each month, but the major reports are the production projections in July and the production estimates based on actual surveys in August through November. For the dates of these key reports, see www.TraderEducation.com. During the growing season, USDA provides weekly reports on corn crop progress and crop conditions on both a state-by-state and national basis and reports new corn export sales and actual shipments. In addition, universities and extension services in the major production states provide a great deal of information about corn production and the economics of raising corn and other crops. So there is plenty of fundamental information for the corn futures trader to consider in making a trading decision.

Corn Trading Tip

The major source of demand for corn for years has come from feed for cattle, hogs and poultry, meaning corn futures traders also needed to monitor animal numbers to gauge the extent of corn usage during the season. But corn has expanded from just a feed and food source to become a major fuel source in recent years as a result of government mandates to include ethanol in gasoline. Corn is the primary source of ethanol, causing a huge increase in the amount of corn consumed. That means corn futures traders now need to watch developments in the energy market very closely for clues to corn prices for several reasons. The first is the price of crude oil and its impact on the consumption of gasoline. On the one hand, high oil prices support high corn prices. On the other hand, high oil prices could lead to less demand for gasoline and the need for ethanol in a recessionary environment. The second reason is government policy for energy prices and ethanol usage and any adjustments the government might make in those policies. Until another source for ethanol comes along, consider corn as one facet of the energy industry.

Corn Trading History

Early Native American corn crops were first cultivated by the Mayans. Today, even as advanced hybrids being grown are resistant to pests and chemicals, corn remains a staple crop at the center of agriculture. One interesting note is that corn as we know it today would not exist if it weren't for the humans who cultivated and developed it. Corn is actually a plant that does not exist naturally in the wild. It can only survive if planted and protected by humans. Corn is one of the two original commodities traded as futures contracts on a U.S. exchange. Corn futures trading began at the Chicago Board of Trade in 1852. The original corn futures or forward contract was for 3,000 bushels instead of the full-size 5,000-bushel contract traded today. Corn futures remain one of the most liquid grain futures contracts.

Breaking News

Softs

Jim Wyckoff, Senior Analyst, TraderPlanet.com

July sugar closed down 41 points at 15.44 cents yesterday. Prices closed near the session low on profit-taking pressure. The key "outside markets" were mixed for the sugar futures market yesterday, as the U.S. stock indexes were steady-higher, crude oil prices were steady-lower and the U.S. dollar was lower. Sugar has been trading in a sideways range at higher levels for three weeks. Bulls need to push prices above this trading range to gain fresh power. That means pushing and closing prices above the May high of 16.03 cents. Sugar bulls do still have the near-term technical advantage. Prices are still in a seven-week-old uptrend on the daily bar chart. Bulls' next upside price objective is to push and close prices above technical resistance at 16.03 cents. Bears' next downside price objective is to push and close prices below solid technical support at 14.90 cents. First resistance is seen at 15.75 cents and then at yesterday's high of 15.88 cents. First support is seen at yesterday's low of 15.40 cents and then at last week's low of 15.26 cents.

Wyckoff's Market Rating: 7.0

Read More at TraderPlanet.com »


Livestock

Jim Wyckoff, Senior Analyst, TraderPlanet.com

August live cattle closed down $0.20 at $81.62 yesterday. Prices closed nearer the session low yesterday and closed at a fresh two-month low close. The key "outside markets" were bullish for the cattle futures market yesterday, as the U.S. stock indexes were higher, crude oil prices were higher and the U.S. dollar was lower. Yet the cattle futures sold off anyway, which is a bearish clue. Cattle futures bears have the overall near-term technical advantage. Prices are in a six-week-old downtrend on the daily bar chart. Bulls' next upside price objective is to push prices above solid technical resistance at $83.90. The next downside technical objective for the bears is pushing and closing prices below solid technical support at the February low of $80.70. First resistance is seen at $82.00 and then at yesterday's high of $82.20. First support is seen at yesterday's low of $81.42 and then at last week's low of $81.22.

Wyckoff's Market Rating: 2.0

Read More at TraderPlanet.com »


Soy Complex, Grain Futures

Jim Wyckoff, Senior Analyst, TraderPlanet.com

July soybeans on Friday closed firmer and near mid-range. The key "outside markets" were bullish for soybeans Friday, as the U.S. stock indexes were firmer, crude oil prices were higher and the U.S. dollar was sharply lower. Bulls do still have the near-term technical advantage. Prices are in a three-month-old uptrend on the daily bar chart. The next upside price objective for the bean bulls is to push and close prices above solid technical resistance at $12.50 a bushel. The next downside price objective for the bears is pushing and closing prices below solid support at $11.00 a bushel. First resistance for July soybeans is seen at Friday's high of $11.93 and then at last week's high of $12.00 3/4. First support is seen at Friday's low of $11.75 1/4 and then at $11.64.

[...]

Read More at TraderPlanet.com »


Metals

Jim Wyckoff, Senior Analyst, TraderPlanet.com

August gold futures closed up $7.60 at $962.80 yesterday. Prices closed nearer the session high yesterday, hit a fresh nine-week high and scored a bullish "outside day" up on the daily bar chart yesterday. Gold bulls have the near-term technical advantage and gained fresh upside momentum yesterday. Prices are in a six-week-old uptrend on the daily bar chart. Bears' next downside price objective is closing prices below solid technical support at $920.00. Gold bulls' next upside price objective is to push and close prices above solid technical resistance at the March high of $970.00. First resistance is seen at yesterday's high of $966.70 and then at $970.00. Support is seen at $955.00 and then at $950.00.

Wyckoff's Market Rating: 7.5.

[...]

Read More at TraderPlanet.com »


Softs

Jim Wyckoff, Senior Analyst, TraderPlanet.com

July sugar closed down 20 points at 15.74 cents yesterday. Prices closed near mid-range and were pressured by profit taking. Also, the key "outside markets" were mostly bearish for the sugar market yesterday, as the U.S. stock indexes were weaker and the U.S. dollar was stronger. Sugar bulls still have the near-term technical advantage. There are still no early technical clues that a market top is close at hand. Prices are still in a seven-week-old uptrend on the daily bar chart. Bulls' next upside price objective is to push and close prices above technical resistance at 17.00 cents. Bears' next downside price objective is to push and close prices below solid technical support at 14.90 cents. First resistance is seen at yesterday's high of 15.93 cents and then at the contract high of 16.05 cents. First support is seen at yesterday's low of 15.51 cents and then at 15.25 cents.

Wyckoff's Market Rating: 7.5

[...]

Read More at TraderPlanet.com »


Livestock

Jim Wyckoff, Senior Analyst, TraderPlanet.com

August live cattle closed up $0.05 at $83.82 yesterday. Prices closed near the session high again yesterday on more tepid short covering in a bear market. Prices last Friday did produce a bullish weekly high close. The key "outside markets" were mostly bullish for the cattle market yesterday, as the U.S. stock indexes were sharply higher and crude oil prices turned higher as the session wore on.  Cattle bears still have the overall near-term technical advantage. Bulls' next upside price objective is to push prices above solid technical resistance at the May high of $84.40. The next downside technical objective for the bears is pushing and closing prices below solid technical support at the May low of $81.60. First resistance is seen at last week's high of $83.90 and then at $84.00. First support is seen at yesterday's low of $83.25 and then at $83.00.

Wyckoff's Market Rating: 3.5

July Soybeans

Jim Wyckoff, Senior Analyst, TraderPlanet.com

July soybeans on Friday closed weaker and near the session low on profit-taking pressure. Bulls still have the solid near-term technical advantage. Prices are still in an 11-week-old uptrend on the daily bar chart. The next upside price objective for the bean bulls is to push and close prices above psychological resistance at $12.00 a bushel. The next downside price objective for the bears is pushing and closing prices below solid support at the April high of $10.64 1/2 a bushel. First resistance for July soybeans is seen at $11.77 1/2 and then at last week's high of $11.89 1/2. First support is seen at Friday's low of $11.64 and then at $11.50.

$16.50 -------- the contract high
$11.45 3/4 --- 10-day moving average
$11.07 1/4 --- 20-day moving average
$10.53 1/2 --- 40-day moving average
$6.85 -------- the contract low

JULY SOYBEAN MEAL

July soybean meal on Friday closed weaker and near the session low on profit taking after hitting a fresh 8.5-month high early on. Bulls still have the solid near-term technical advantage. The next upside price objective for the bulls is to produce a close above solid technical resistance at $390.00. The next downside price objective for the bears is pushing and closing prices below solid technical support at $350.00. First resistance comes in at $380.00 and then at [...]

Read More at TraderPlanet.com »


Energies

Jim Wyckoff, Senior Analyst, TraderPlanet.com

July crude oil closed down $1.03 at $61.00 a barrel yesterday. Prices closed near mid-range yesterday and were pressured on profit taking and a lower U.S. stock market.  Bulls still have the near-term technical advantage. A four- week-old uptrend is in place on the daily bar chart. The next downside price objective for the crude oil bears is to produce a close below solid technical support at this week's low of $56.76. The next upside price objective for the bulls is producing a close above solid technical resistance at $65.00 a barrel. First resistance is seen at yesterday's high of $61.87 and then at this week's high of $62.26. First support is seen at $60.00 and then at $59.00.

Wyckoff's Market Rating: 6.5

[...]

Read More at TraderPlanet.com »


Metals

Jim Wyckoff, Senior Analyst, TraderPlanet.com

June gold futures closed up $12.80 at $939.50 yesterday. Prices closed near the session high and hit a fresh two-month high yesterday. Prices were again supported by a weaker U.S. dollar yesterday. Gold bulls have the near-term technical advantage and gained fresh upside momentum yesterday. Prices are in a four-week-old uptrend on the daily bar chart. Bears' next downside price objective is closing prices below solid technical support at this week's low of $915.20. Gold bulls' next upside price objective is to push and close prices above solid technical resistance at the March high of $970.00. First resistance is seen at yesterday's high of $941.00 and then at $945.00. Support is seen at $935.00 and then at $930.00.

Wyckoff's Market Rating: 7.0

[...]

Read More at TraderPlanet.com »


Softs

Jim Wyckoff, Senior Analyst, TraderPlanet.com

July sugar closed up 2 points at 15.63 cents yesterday. Prices closed near mid-range yesterday. Sugar bulls have the near-term technical advantage. There are still no early technical clues that a market top is close at hand. Prices are still in a five-week-old uptrend on the daily bar chart. Bulls' next upside price objective is to push and close prices above technical resistance at 17.00 cents.  Bears' next downside price objective is to push and close prices below solid technical support at last week's low of 14.90 cents. First resistance is seen at yesterday's high of 15.91 cents and then at the May high of 16.03 cents. First support is seen at 15.50 cents and then at yesterday's low of 15.37 cents.

Wyckoff's Market Rating: 7.0

[...]

Read More at TraderPlanet.com »





* VantagePoint's accuracy statistics were computed on out-of-sample price data utilizing neural networks trained on both single market and intermarket data and relate to the Neural Index which indicates whether the average of tomorrows typical price and the typical price of the day after tomorrow (both unknowns at this time) are expected to be higher or lower than the average of yesterday's typical price and the typical price of the day before yesterday. The numerical value of the Neural Index, either a one (1) or a zero (0) thereby indicates whether or not the trend direction is expected to be higher or lower for each target market over the next two days. A Neural Network accuracy statistic of 80% does not mean that eight out of ten trades will be winning trades. VantagePoint is not a trading system that gives the same specific buy and sell signals to all users. It is a technical forecasting tool that is comprised of proprietary forecasting indicators that apply neural networks to market data for the purpose of finding patterns and relationships between markets and then using this information to make futuristic forecasts. Using these indicators each trader determines his or her own entries, exits and stop placements which may vary from those of other traders due to differences among traders in trading style, objectives, risk propensity, account size and number of contracts involved, thereby producing different trading results from one trader to another. Futures and options trading involves risk, is not for every trader, and only risk capital should be used. For more detailed information, please read our Important Disclaimer, Privacy Policy, and Software License Agreement.



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