Corn prices have stabilized as of this morning, reports Corn+Soybean Digest, but the JUL18 contract has recently traded from a high just above $4.12 per bushel, set back on May 24th, to a low set yesterday at $3.38^6.
The new-crop DEC18 contract touched $4.29^4, also on May 24th, and has since fallen to a yesterday's fresh new low of $3.60 per bushel. The only bright spot is the fact we rallied back some +15 cents off the lows.
There's some talk that the U.S. government could step in and make some concessions to U.S. farmers and buy U.S. supply.
