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NW Indiana | Since we printed the low last fall the fundamentals have changed drastically. Corn carryout down 530 million, soybean carryout down 180 million. The reality to the market is we just grew a big crop and carryout declined yoy. Covid inflation is showing up in the price/demand. Farmers are much more sold this time of the year vs last year. The funds now have a lot of fuel in the tank to push it much higher. A weather scare gets the farmers excited and the funds jump on it price can go much higher than what the majority is thinking as this last fund rally had a heavy wet blanket on it with farmer selling. | |
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Beans
