NOV 20

NOV 13

1182

192

475

The South Dakota average price for corn late this past week was $3.30 per bushel, one cent lower than a week ago.

Just like a week ago, corn futures began this past week gaining ground (12 cents) thanks to a lower dollar value for the day. Just about every commodity on Monday of this past week gained ground thanks to an ever-declining dollar value. There was also some concern on Monday for the threat of rainfall in the central and eastern corn belt this past week that gave corn futures support on Monday. Even in the face of double digit gains in soybeans on Tuesday, corn futures saw a relatively narrow trading range and ended the day a fraction of a cent lower. Wednesday’s trade brought gains at the opening bell but by the end of the day, profit-taking was the main feature, leaving futures to end the day five cents lower. By Thursday and Friday, concerns over a weakening export market, prospects that harvest may gain some ground, a modest gains in the value of the dollar provided nothing but negative influence as corn futures ended the week steady compared to a week ago. The strong gains on Monday were simply whittled away the rest of the week. Just like last week, the crop progress report that will be issued on Monday, November 23rd may give some direction to the market the rest of the week. Also, weather will play a role into next week as the calendar approaches the last full week of November.

USDA’s monthly supply and demand numbers from the most recent World Agricultural Supply and Demand Estimates report are summarized in a file that is linked below. For complete details, simply click on the link entitled, “Corn Supply and Demand.”

Corn basis data and cash corn price data for various regions of South Dakota is available by connecting with a link at the bottom of this page. To access the charts showing the corn basis and cash prices for your region of the state, just click on the link entitled “Cash corn price and basis charts”. This basis information is compiled by the Economics Department at South Dakota State University.

For more information:
Economics Department website:  http://econ.sdstate.edu/
      under the Extension tab click on Current Market Analysis   
Extension Service website:  http://sdces.sdstate.edu/
     click on the Farm Management/Marketing tab
or contact Mr May at  alan.may@sdstate.edu