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| I think a lot of grain is moving now because of the inverse from July to September. We have had pretty good carries in the market for the last 18 months, so it has worked good to just roll your hedges. That is not working now so it is time to move the grain or lose on the inverse. It will be interesting to watch what happens when the July goes into delivery. It is not unusual for the market to not make sense for a few months at a time, and this could easily be one of those times. I am typically bearish but right now I am not bearish the cbot price, but I might be bearish the cash market for the next couple of months. | |
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Corn market
