Market Uncertain About Today’s Corn, Soybean Reports
3/10/2010
The market didn’t know what to make of today’s corn and soybean reports, trading erratically, says Jerry Gulke of The Gulke Group. “What will be very disappointing is if the corn market closes down 4 cents or 5 cents after the news is digested.”
Listen to his full comments and advice:
“Today’s reports were somewhat negative for corn and neutral for soybeans,” says Bryan Doherty, analyst for Top Farmer Intelligence. “If you have some new-crop sales in place, I wouldn’t do much more on the basis of these reports. However, if you have no sales made, I’d be proactive and get some sold, hoping they’ll prove to be the worst sales you make.”
Listen to his full comments and advice:
Written Commentary
by Bill Biedermann, Sr. Vice President, Allendale Inc.
USDA report today was mostly bearish. Corn and wheat numbers are huge. Beans as expected but world stocks are massive. Market has been wanting to trade floods but poor ethanol market and higher stocks are pressuring corn. Look for focus on beans to shift towards S American supply.
Early call Corn and wheat 2-5 lower. Beans mixed.
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