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Jim Wyckoff

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Corn market trending up, for now…

September 9, 2022 by Jim Wyckoff

The corn market bulls had one foot in the grave in late July, but have since made a strong showing to have prices in a six-week-old uptrend on the daily bar chart at present. There are some headwinds that will make further price gains in corn more difficult, including bearish seasonal factors has the U.S. corn harvest approaches. Also, soybean and wheat futures markets have been struggling and the U.S. dollar index this week hit a 20-year high. Corn is priced in U.S. dollars on most world markets, so the stronger greenback makes corn more expensive in non-U.S. currency. It will be very impressive if the corn market bulls can keep the price uptrend alive for the next few weeks.—Stay tuned. Jim Wyckoff

Filed Under: Blog News, Jim's Morning Report, Uncategorized

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