A harvest Low for Cash Corn Prices

Cash corn price in the Midwest has made a  harvest (defined as September through December) low prior to or by the first week of October in 66% of years between 1992 and 2023. The current low for cash corn is $3.63 recorded on 9/20/2024.The expected  harvest low for Midwest cash corn based on the USDA US corn supply/demand balance published last month is close to $3.00 per bushel. 

USDA has scheduled the next WASDE report for October 11, 2024. We do not expect major S/D revisions this month , but the October report is sometimes a surprise as the September to October revisions cut the forecast standard error with the final US corn S/D table by 20%.

We tract daily Central Illinois cash corn bids from USDA report AMS 3192.