We have seen the financial fiascos foul up grain pricing before. Here it is again. The usual culprits are responsible: politicians in power and their buddies in the SCt and major corporations.
OK, now that I've dealt with that, on to this week's analysis.
Corn is in a neutral to bullish stance. Funds got longer, commercials shorter but remember we are running a week behind. Why, when the stock market, which handles far more volume, is current at the end of every trading session? See the first paragraph. When all the baloney is over, we are still waiting for the other shoe to drop. Which other shoe? Weather, Chinese demand, and the world's economy. My current targets for corn are 815 to 825.
Wehat is in a neutral stance. Commercials have been carrying the long side of the market for about 10 weeks. They sold a bit this week and funds covered some of their shorts.
Beans emerged from a bearish stance and are now neutral. Commercials lost some shorts, funds lost some longs.