Wait for cheaper Corn (and Oil)

The price of Corn looks like going lower again.

My work suggests ‘new longs’ should be careful and wait for a decisive break higher and if so, it’ll be a momentum trade.

For producers needing cashflow, it’s prudent to lock in the current price $6.80 being offered.

For buyers, you should get some cheaper prices soon.

$5.80 comes to mind.

And something to ponder is how the price of Corn goes, so does Oil’s.

February 1, 2023

by Rob Zdravevski

rob@karriasset.com.au