<center>![](https://cdn.steemitimages.com/DQmcUjwu6nJPMHXdF2wru1drr1hfrQyETepBCtiKFzXHi11/image.png)</center>

Corn is one of the world’s most versatile grains. It’s used as animal feed, biofuels and sweeteners.  40% of corn produced is used to make ethanol which is used as a fuel additive.   Only a small amount of corn production goes into human consumption like corn oil, corn starch and high fructose corn syrup to sweeten many processed foods and beverages. 

<center>![](https://cdn.steemitimages.com/DQmRz6NBZgq96CUonnLYEDHqZGnnUMrr6RHwgeAGmhVf3mt/image.png)</center>

Corn is produced on every continent except Antarctica. The U.S. accounts for about 40% of global corn production.  The largest corn producing states are Iowa, Nebraska, Illinois, Indiana, and Ohio.

<center>![](https://cdn.steemitimages.com/DQmQibuj3b2C1kCaYZisubsEdK5f3v2RqxLVsvwBfHirr8Y/image.png)</center>

<center>[Source Image](https://cdoovision.com/map-of-corn-grown-in-the-us/)</center>

Corn is a highly seasonal commodity with most of the trading action happening in during the summer months. The period between planting and harvesting is one of the most volatile months for corn futures as the Smart Money and Hedgers move price based on expected supply and demand factors.  

NOTE: the Hedgers are corn producers or consumers such as factories / large companies where corn is a crucial element of their product or business.

The United States Department of Agriculture (USDA) releases a set of reports which help determined the expected supply and demand.  In early January, the USDA releases the annual crop summary which gives a comprehensive view of the production numbers for the previous year and also gives information on the stocks of corn at all positions towards the end of the year.  Another report is the Planting Intentions report at the end of March. The report gives an overview of the market for the season and highlights key information as the amount of acreage that farmers intend to plant for the crop.

Other factors affecting the supply and demand equation are the strength of the U.S. dollar, government regulation, emerging market and the weather. 

Lets go to the charts to see where the price might be heading next. 

Monthly Chart (Curve Time Frame) - monthly supply is $515 and monthly demand is $320.

![](https://cdn.steemitimages.com/DQmWg3VEn2CTdDeCuK1hzL3WuA5atfTNKqK8b9mduRnoUSf/image.png)

Weekly Chart (Trend Time Frame) – the trend is range bound, however, in July price hit and bounced off the weekly demand zone at $330.

![](https://cdn.steemitimages.com/DQmb6pNXSWb8gLXdnCh5vhnQkYQ7AJ6L6DpzYwFT9dUzM2r/image.png)

Daily Chart (Entry Time Frame) – the train left the station already when price it the daily demand at $353.  However, price may offer another opportunity to get on the train if and when price pulls back from the $380 daily supply. Target 1 is $390, with a final target of $400. 

![](https://cdn.steemitimages.com/DQmbx8Da5eBjzdQuR6TbDgDUdNHui6T4xUcq6qR8RJ9bY8A/image.png)

This post is my personal opinion. I’m not a financial advisor, this isn't financial advise. Do your own research before making investment decisions.
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