Trend in corn prices

March corn futures were trading above the key support level of 370 cents per bushel on December 21, 2015. Prices were below the 20-day moving average that day. The prices of corn were less volatile than those of the last two days of the previous week and will likely maintain a downward movement.

Corn Trades above Key Support Level of 370 Cents

The chart indicates that prices could stay in the bracket of 360 and 380 cents per bushel in the near term.

Price drivers

Speculation of slower exports dragged corn prices down on December 21, 2015. Analysts projected that the sowing area in Ukraine could rise significantly, supporting the supply from Ukraine and creating more competition for US corn exports.

The higher Argentinian peso and indications of strength in near-term support promoted speculation of lower Argentinian corn exports on December 21, 2015. The US dollar index depreciated by 0.27% on December 21, 2015, which supported US corn export sentiment that day.

Stocks review

With the drop in corn prices on December 21, 2015, producers and traders could be impacted as the value of their products decline. After four consecutive days of increase, Bunge (BG) decreased by 0.70% on December 21, 2015. CHS (CHSCP) shrank by 0.62% for a third consecutive trading day, with a total decline of 1.9% during the period. After falling for three and two consecutive days, respectively, ConAgra Foods’ (CAG) and Tyson Foods’ (TSN) shares both increased by ~1.1% on December 21, 2015. The PowerShares DB Agriculture ETF (DBA) continued its downward price movement, falling by 0.34% on December 21, 2015.

Latest articles

Broadcom (AVGO) stock fell ~8.5% after markets closed yesterday following the semiconductor giant's fiscal 2019 second-quarter earnings release. It missed analysts' revenue estimate and cut its fiscal 2019 revenue guidance by $2 billion to $22.5 billion due to sluggishness in its semiconductor solutions business.

The SPDR Gold Shares ETF (GLD), which tracks physical gold prices, has underperformed the broader markets year-to-date, rising just 4.4% compared to the S&P 500’s (SPY) gain of 15.9% as of June 14. The sentiment for gold, however, has been turning around.

Safe havens such as Treasuries and gold were back in favor on June 14 as stocks fell due to rising tensions in the Middle East, concerns over growth, and the looming threat of the US-China trade war. The tech-heavy Nasdaq Composite Index fell 0.67% in the first hour of trading.

Lululemon (LULU) stock rose 2.1% on June 13 in reaction to better-than-expected first-quarter results and an upgraded outlook for fiscal 2019 overall. The company's first-quarter adjusted EPS grew 34.5% to $0.74 on revenue growth of 20.4% to $782.32 million. Analysts had expected EPS of $0.70 and revenue of $755.31 million. Here's why the outlook got an upgrade.

14 Jun

IEA Again Slashes Its Oil Demand Growth Estimate

WRITTEN BY Rabindra Samanta

As of 4:40 AM Eastern Time today, US crude oil active futures were at $51.83, ~4% below their closing level in the previous week. If US crude oil prices stay at those levels today, they'll mark their third week of decline in five weeks.

Amazon is discontinuing its Amazon Restaurants service, which has been delivering food for restaurants in parts of the United States. Amazon Restaurants launched in the United States in 2015 and entered the British market the following year. However, it met strong opposition in the British market.

172.31.71.127