Overview: Corn and soybeans traders were apprehensive today. The dollar was stronger, the stock market struggled, while gold and crude were lower. Bernanke spoke yesterday reinforcing previous statements that the economy is slow and additional stimulus may be needed. This may have spooked traders causing them to even positions ahead of the weekend. Corn:[…]
There has been a lot of buzz recently regarding the second round of quantitative easing by the Federal Reserve scheduled to begin next month. It has rekindled optimism among investors that their action will simulate a rebound in the fledgling economy. As a result, equities and other investments have risen in value. However, the real[…]
Corn Outlook: Temperatures are soaring in corn futures keeping traders nerves frayed. Prices were slammed two weeks ago because of the bearish stocks report. However, the heat turned up the following week when the USDA slashed their yield estimate to 155.8 bpa from 162.5 bpa. With over a $2.00 price swing within a two-week period,[…]
By Whitney McFerron – Oct 12, 2010 11:22 AM ET Wheat futures rose for the third time in four sessions on speculation that dry weather will harm winter crops that U.S. farmers are planting in the Great Plains. Fields in Kansas and Nebraska will be dry through Oct. 16 after “a few light showers” today,[…]
Overview: Corn and soybeans were higher again today as the funds are buying back the positions that they liquidated early last week. Right now, traders are wildly bullish, which is predictable considering the bullish USDA report on Friday and the current stage of the pattern that we are in now. However, as I mentioned in[…]
Click here sign up for a FREE! trial subscription to our daily newsletters. Overview: After three days of fund liquidation in corn, the sell-off seems to have run its course. Early last week, the long corn position held by the trend following funds stood at a record 1.860 BB and reached a record of 715[…]
Overview: Grain futures are still gasping for air after having the wind knocked out from yesterday’s bearish stocks report in corn. The chances are that some new crop corn found its way into the report because of early harvest. However, the USDA says that this was not the case. In the meantime, it will take[…]
Corn Outlook: Corn futures are winded. No wonder; they have risen 54 percent since June, while the long position of the funds has grown to a record 4.255 BB. The funds could be their own worst enemy as was the case when prices collapsed in 2008. In other developments, USDA projects corn stocks as of[…]
Overview: Grain futures, with the exception of soybeans, backed off today from the forecast of ideal harvest weather this week and month end profit taking by the funds. Meanwhile, fear of inflation because of quantitative easing by the Fed’s will provide underlying support. In order for inflation to become a serious threat, however, demand[…]
Corn Outlook: Buy and hold, corn is the new yellow gold! Exuberance in corn is becoming high-pitched, similar to 2008. This is evident by the fund long position swelling to a record 4.2 BB. Although the market is over-bought, the bubble does not seem ready to burst yet. Prices are currently supported by disappointing yields[…]