Source: FARM DOC DAILY, UNIV. OF ILLINOIS, 10/30/17



December corn futures closed the week ending October 27 at $3.48 per bushel continuing a pattern over the last month of small deviations within a range between $3.45 and $3.55. Additionally, the monthly average price of corn received by U.S. producers has been less than $3.50 per bushel since August of 2016 and has been below $4.00 for 37 consecutive months. An extended rally in corn prices during the next marketing year requires reduced corn supplies, increased consumption, or some combination of both factors.

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