The corn market is one of the most popular commodities on the global forex market under today’s market conditions. We’ve experienced a fluctuating trend on corn market. The starting point was 357.00 level at the beginning of year. The parity tested 437.75 level at 12nd June which was the highest level of the year on corn market. The parity is continuing its trend over 350.00 level at the last days of year.
The United States is among the most corn producing countries. In addition to this country, China and Brazil are also producing intensive production from this product. Therefore, the economies of these countries, their support for corn producers, and climate change in these countries are directly impacted on corn pricing. It is essential that those who will invest on corn on the Forex market closely follow the economies of these three countries and corn stock exchanges. On the other hand, the climate in the corn-grown areas of the mentioned countries should be followed closely as if they were living in that region. An air conditioner, which is affected by weather conditions, can negatively affect a possible depreciation. It is possible to make money by opening the position at the right time even if the corn is lost due to the two-way process.
We can say, as the first forecasts of 2017, the positive trend will be followed on the corn market according to the experts. The support level will be 342.00 and the resistance level will be 378.00 on corn market for the first days of 2017.
- Date: 09 December 2016 Fri 23:34
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