2016 could hold a few more months of “ugliness” until we start a fresh new year, according to Glen Ring of Glen Ring Enterprises, LLC.
On Market Rally Thursday, Ring believes if more water comes to the Midwest, the market place would have a strong reaction to it. This concern for prices should be taken with a grain of salt, said Ring.
Historically speaking, Ring noted how the dollar emerges in September “sets the direction for the next 2-3 months.”
Since cotton and corn are the most sensitive to the dollar, Ring forecasts one more washout in 2016.
Listen to Ring on Market Rally above.