Crude Oil Dragging Down Corn

The collapse in crude oil prices in the past month is dragging on the corn market. “Ethanol margins are pinched. It’s a drag for corn compared to what we’ve normally seen the last couple of years,” explains AgriVisor market analyst Dale Durchholz. “If we get some kind of an agreement and reason to think there’s a low or a low is at hand in crude, I think it will help the corn.” Durchholz says we are also nearing the time of year when crude oil usually puts in its seasonal low.