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NW Indiana | That sounds like the making of a range bound market to me. End user willing to buy at a certain level but no need to push the market up in order to get it(the floor). Producers willing to sell at a certain level with plenty of additional supplies to sell later (the ceiling). The traders doing the magic of moving prices from one to the other.
If you were in a hurry to buy I think we would be in a steady up trend. If producers were in a hurry to sell we would be in a steady down trend. I don't see either of these scenarios at this time.
Edit to add. I think this will continue for awhile but the ranges could easily change once we have a firm grasp on the exact crop size. I still think corn estimates to high (168) and soys probably fairly close
Edited by IN555 9/27/2016 22:00
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3 bucks or below ?
