Bullish Seasonal for July Corn
Bullish Seasonal for July Corn
This month the USDA forecast the 2023 US corn carryover at 1.2 billion bushels or 14% of crop year FSI usage plus crop year exports. July corn has advanced more than declined in 8 of 11 years (since 1971) in which the defined ratio was less than 22% .
| July Corn $/Bushel | ||||||
| February July | ||||||
| *YEARS | Jan-26 | High | % Change | Low | %Change | X=Bull Years |
| 1981 | $3.90 | $3.87 | -1% | $3.21 | -18% | |
| 1984 | $3.26 | $3.63 | 11% | $3.20 | -2% | x |
| 1996 | $3.57 | $5.55 | 55% | $3.57 | 0% | x |
| 2004 | $2.86 | $3.42 | 20% | $2.40 | -16% | x |
| 2007 | $4.22 | $4.59 | 9% | $3.18 | -25% | |
| 2008 | $4.90 | $7.65 | 56% | $5.11 | 4% | x |
| 2011 | $6.71 | $8.00 | 19% | $6.15 | -8% | x |
| 2012 | $6.20 | $7.94 | 28% | $5.51 | -11% | x |
| 2013 | $7.22 | $7.39 | 2% | $6.10 | -15% | |
| 2014 | $4.39 | $5.24 | 20% | $4.36 | -1% | x |
| 2016 | $3.77 | $4.39 | 17% | $3.33 | -12% | x |
| 2019 | $3.95 | $4.64 | 17% | $3.43 | -13% | x |
| 2021 | $5.19 | $7.51 | 45% | $5.12 | -1% | x |
| 2022 | $6.07 | $8.25 | 36% | $6.06 | 0% | x |
| 2023 | $6.67 | |||||
| *Years in which USDA’s January US corn carryout estimate was less than 22% of crop year FSI plus Exports | ||||||