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| Maize, nice chart, pretty much the lower end of the range, could it go lower? sure if you are a believer in USDA numbers and have bearish momentum. The problem is how can we quantify acreage and yield losses from excessive rain over the past few weeks? Answer: we can't and neither can the USDA and they probably won't attempt it in the June 30th report. So funds will keep selling it. We need huge bullish data to reverse this trend or exhausted sellers. Neither of which may happen for a month or so. Corn crop acreage and yield losses are real, its just not the focus right now. | |
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Has the down trend in CZ4 been violated?
