bullish on corn gopixa/iStock/ThinkStock

Long-term bull in the corn market

Smaller South American production and growing global corn demand keep the bulls alive.

Corn bulls are happy to see another round of strong weekly U.S. export sales. There's also continued concern surrounding the Argentine crop and perhaps fewer second-crop corn acres in Brazil.

Bears, on the other hand, continue to sight burdensome supply both domestically and globally.

It feels like the bullish kicker is the fact Chinese demand is ramping up and perhaps more robust than the trade is giving credit. There's also bullish tailwind being created by a weakening U.S. dollar and strength in crude oil.

I remain a longer-term bull, believing South American production is getting smaller, not larger, global corn demand is growing not shrinking, and the overall macros have improved.

Obviously, weather is the wild-card...

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TAGS: Corn Prices
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