By Sara Schafer
Ag Web
A rising tide lifts all boats, and that might be what’s happening in the grain and oilseed markets. This week kicked off with another big rally in prices.
May corn prices are above $8 per bushel, and soybean prices are above $17 per bushel. Wheat prices hit record levels to round out March, and cotton prices are creeping close to levels not seen in a decade.
“The last time we had front-month corn trading above $8 was in 2012,” says Brian Splitt, technical analyst with AgMarket.Net. “That was in August when we had a drought. When you look at what front-month high was made in 2012, it was around $8.43.”