|
SC Iowa | Pete....the users who have yet to buy their CASH needs were waiting to see what the quarterly stocks numbers would say..
if the report had been bearish, the spread between July and September futures would have come closer together....which means your purchases for August would be valued at a lower basis level..
instead, the report was bullish, and those August purchases are going to be a much higher values.....
and since the change was sizable, everyone who needs late summer corn is now trying to get that corn bought...
it's one of those self-fulfilling prophecies and the market (as measured by cost vs. September futures) goes higher... | |
|
Corn futures in June of 2008
