NW Ohio | IN555 - 6/5/2017 08:56
89 million planted so lets say 81.9 harvested. 154-158 national would be 12.6-12.94. The market would likely have a major over reaction to this from the amount of energy that is stored(jpartners way of looking at it). Those types of numbers would justify corn around $5 for a period but with so much energy there could be a quick push to say $6 as everyone tried to catch the market. Fundamentally $6 isn't justified but money flows can and do regularly drive the market away from fundamentals.
I am not in the camp 154-158 is in play at this time. July will determine that
Of course if this happens, food prices will rise and ethanol will again get the blame....... |
Zen, crop conditions model results
