CORN Futures Hitting $19 by Month-End?
Looking at the recent action in $CORN, especially with today's strong move, I'm thinking about the probability of us seeing $19 before month-end. We're currently at $18.26, and the day's high of $18.295 shows good momentum. Weather patterns in key growing regions are still a significant unknown, and supply chain bottlenecks, though improving, could still cause volatility. I'd put the odds of hitting $19 by the end of the month at around 60%. There's enough upward pressure from demand projections and lingering supply concerns, but a downside surprise on weather or a sudden influx of inventory could easily cap further gains. It feels like we're approaching a critical inflection point where either a breakout or a consolidation phase could occur. Interested to hear if others are seeing similar signals or if I'm perhaps overestimating the bullish sentiment.
It's an interesting thought given the current momentum. What specific weather patterns are you watching most closely that could impact that target?