The corn market has slowly climbed back to the $5 level.
Market analyst Naomi Blohm with Total Farm Marketing tells Brownfield prices had been trading in a narrow range with support around $4.65.
“We didn’t at the time have really a reason to get above $5. We were waiting to see what harvest yields were going to be, we were waiting to see if demand would pick up (including) ethanol demand.”
She says futures prices are moving higher on lower-than-expected corn yields and investor funds exiting short positions.