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NW Indiana | It seems odd the market would be willing to price in this early in the season the crop is made but lets take a look at recent history. 2025 the high was middle of February(new crop) followed by a lesser high in mid April to slide into harvest from there. 2024 the high was just after New years with another lower high mid May just to slide into harvest. 2023 the high would have been at the beginning of the year but a drought scare caused a solid spike into late june which was short lived to only slide into harvest. So the funds have been heavily long building a large position since the war began, is the fat lady singing? I think we are down to hopes for a similar 2023 scare otherwise it doesn't look good. The corn chart looks like it would be getting over sold and maybe due for a dead cat bounce. Beans are still near the recent high trading range so downside risk is greater.
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Is the fat lady singing?
