The weak bulls are heading for the exit as the market digests the recent news from the feed grain council meeting. The big news came from the chief economist for USDA who suggested corn acres are going to grow above 92 million and soybean acreage increase to 78 million. Both numbers are at the top end of trade estimates. Add to this the expectation that China is going to start cancelling some bean orders from U.S. and purchase from Brazil has everybody thinking a short-term top.
Wordless Wednesday - Thoughts of The Past
Central Plains States Note Double-digit Gains In Cropland Values