The Corn Bear Roars

closeup of corn

Report Snapshot

Although staying alert to corn prices may not be much fun right now, paying attention and being ready for the little moves up will be essential.

From early November to the end of February, the corn market had been on a bearish skid amid a negative news cycle fueled mainly by large corn stocks outweighing modestly positive demand. Moreover, the USDA’s initial read on 2024 acreage and yield was largely considered bearish, and market speculators piled into a record level of net short positions.

The bearish sentiment became so negative that the March 2024 futures contract briefly dipped below $4/bu., and cash bids in parts of the U.S. followed suit. The market has recouped a small amount of the losses since the beginning of March.

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