With corn and wheat markets consolidating in fairly tight ranges, and record U.S. soybean production and demand, the market could be in for low volatility, according to Joe Vaclavik of Standard Grain.
Looking at corn futures, he cautioned that "the market may be bracing for a period of low volatility similar to what we saw over the winter, which would not be a good thing,”
Soybeans also could “be in for slower times ahead relative to what we’ve seen,” noted Vacklavik, while the wheat market “continues to consolidate in a very tight range.”
Grain markets dipped lower in early trading on Thursday, with December futures for corn down ¾ of a cent at $3.39, December soybeans down 9¾ cents at $10.06¼, December Chicago wheat down 2 cents at $4.41, and December Kansas City wheat down ¾ of a cent at $4.43¼, according to Vaklavik.
Click here to listen to his full commentary here.