Not even Marvin Gaye can tell us what’s goin’ on in the grain markets these days.
Some corn, soybean, and wheat contracts made new highs once again on the Chicago Board of Trade, but significant losses overnight going into the Tuesday trading have the new highs standing out on the Board.
We wait with abated breath the results of USDA’s research to see if the trading of the last couple of months makes sense. Then, we anticipate the reaction to the reports.
Sell everything you own or have nerve to sell ahead in the next two weeks!
Six weeks ago, and a little more, we finally made the big highs in corn and soybeans. I had been impatient, had predicted highs several times, and was finally right. As prices broke there were, as usual, technicians who said there was still room on the chart for one more leg up. Leg up Then […]
Grain markets have stabilized on the Chicago Board of Trade in recent days. That is a nice way of saying that we have seen small gains after large losses, without a real sense of direction being established. Market moves December corn futures have retraced nearly a third of the large loss. We fell from the […]
We in the grain business are hanging on with both hands to the mechanical bull market. It goes up, it goes down, and it eventually throws you off on your face.
Grain markets continue to confound observers, as new highs keep flowing as combines keep rolling. Corn, soybeans and wheat have all made new highs or returned to the high in the case of wheat. This is happening even as we are finishing harvest, a time normally of declining prices. Take your pick of the reason. […]
Is grain market on a report-induced, blow-off high, or has the report just set off another leg of the rally?
The old gray mare, she ain’t what she used to be. You know the one — she galloped in and got you all excited about how fast she was, then ran out of steam. No, she looks like a nag you were a fool to bet the farm on. She looked like Secretariat’s great-granddaughter, but […]