Analyzing the Corn Market and the Possibility of a Low in September - MIP Markets with Shawn Hackett
Takeaways
The price of corn has experienced a downturn, but it is uncertain whether the market has hit the bottom. A technical buy signal, such as a weekly close over 401, would indicate a potential low.
Balance sheets and availability influence demand for corn and soybeans. While there may be a surplus of corn, not all of it is necessarily for sale at current prices.
Increased demand for bean oil, particularly for renewable diesel, could increase soybean prices.
The cattle market is heavy, and producers are advised to lock prices to mitigate potential declines.
The hog market is oversupplied, but an increase in Chinese demand could lead to an upturn in it.
The Moving Iron Summit is a valuable event for those interested in the equipment business and the driving factors behind it.
Chapters
00:00Introduction and Discussion of Corn Prices
03:47Factors Influencing Demand and Balance Sheets for Corn and Soybeans
08:54The Potential for a Rally in Soybean Prices Due to Increased Demand for Bean Oil
12:59Concerns About the Cattle Market and the Need to Lock in Prices
15:00The Oversupply in the Hog Market and the Potential for Chinese Demand
18:16The Moving Iron Summit: A Valuable Event for the Equipment Business
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