Ed's World: Grain Marketing posted this on April 6. It may come in handy over the next few months:
Nearby futures contracts, highest ever recorded prices
| Commodity | Contract delivery month | Price ($/bu.) | Date | April 5, 2011 |
| Corn | July’08 | $7.625 | June 27, 2008 | $7.7025 new record! |
| Soybeans | August’08 | $16.52 | July 3, 2008 | $13.82 |
| Chicago wheat | May’08 | $13.18 | March 13, 2008 | $7.885 |
| Kansas City wheat | March’08 | $13.70 | February 27, 2008 | $9.53 |
| Minneapolis wheat | March’08 | $25.00 | February 27, 2008 | $9.6525 |
..MORE, including a table of highest closing prices.
Although we are still trading bearish this is a dangerous little game, definitely not for widowed orphans.
Recently:
Apr. 5
April 7...Corn futures for May delivery rose 6.5 cents, or 0.9 percent, to settle at $7.6675 a bushel at 1:15 p.m. on the Chicago Board of Trade, the highest closing price on record for a contract closest to expiration. Earlier, the commodity reached $7.7075, the highest since July 3, 2008....
Another Big USDA Report Tomorrow; I'm Thinking of Fading Corn on the Release (CORN; DBA; MOO)
The futures are down 1 3/4 cents at $7.6125 after opening up....April 8
...My best gut feel (and that's all it is) is that this will be the last positive news for all eternity (or 30 days, which in the pits equals the same time period).
This gut-feel is probably informed by three things...
UPDATED: World Agricultural Supply and Demand Estimates April 8, 2011
Wheat up 3 1//2 cents at $8.125.April 15
Corn futures are up 8 cents at $7.67. Our thinking yesterday was to fade the release, nothing done yet....
What History Says About Corn Prices
Maize is trading at $7.485 down .125.
