Commodities
Corn Futures Contract Faces Fluctuations Amid New Crop Arrivals
The corn futures contract (C2701) is trading in a fluctuating range due to expectations of new crop arrivals. According to SunSirs, market sentiment is weighed down by concentrated selling by farmers and a bumper harvest.
In the short-term, prices are expected to dip from October to early November as massive arrival of new crops amplifies supply pressure. Farmers' reluctance to sell and signs of the spot market bottoming out will be crucial factors during this phase.
However, by late November to December, policy support will take effect, establishing a floor for prices and limiting the potential for a deep price drop. Winter restocking has begun, driving a rebound in spot prices as demand recovers month-on-month.