Commodities
Corn Prices Soar on Nine Days of Higher Highs Amid Strong Demand
Corn futures are rising on the heels of nine days of higher highs. Stephen Davis, senior market strategist at Walsh Trading, Inc., believes demand for corn will drive prices higher this fall and into early next year.
Sunday night, corn gapped higher, which Davis considers very bullish. According to an August 18 report, managed money is net long over 250,000 contracts with no compelling reason to exit their positions.
The monthly World Agricultural Supply and Demand Estimates (WASDE) report from the United States Department of Agriculture forecasts lower supplies, unchanged domestic use, larger exports, and smaller ending stocks for U.S. corn in 2026/27.