This question is for the grain trading experts on this list…

I'm a novice at trading commodities and am still learning the ropes but have been focused on corn and wheat since last June…Please forgive me if this is an incredibly naive question to ask…

I've noticed in the last few sessions that nearby old crop corn has been correcting well off its highs, whereas new crop December corn closing prices have been holding in a very tight range. Does anyone have any thoughts on why this is happening?

I can understand the theory that new crop corn may not move up as much as old crop right now because the total plantings devoted to new corn are still wide open, and the nearby price level is encouraging farmers to lean towards corn when making crop choices for December, I find it interesting that December corn has not really budged downward as old corn has corrected.

Just trying to get ideas on possible explanations and maybe get a meal out of this situation…


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