|
NW Indiana | I would agree the market structure reigns supreme, I disagree on charts. The position of the participants always matters, charts often don't have much influence during peak fundamental seasons as we seen this summer. Fundamentals a large portion of the year do little to move price. The only thing consistent is whether the boat is balanced. The funds are getting a descent size short position in corn which should help alleviate some of the pain from the farmer being undersold. Either way there is absolutely nothing that can predict the future. If SA comes up woefully short on production exports on corn could increase drastically, if they raise a good crop we could come up short on current estimate. Soybeans same deal except there is no cushion and the critical production season is sooner. Wagers are being placed with a whole range of reasons why but absolutely no one knows what the future will bring and the fundamentals will lead the cause but they are the hardest to predict. | |
|
Grain markets showing harvest pressure
