The following commentary does not necessarily reflect the views of AgWeb or Farm Journal Media. The opinions expressed below are the author's own.
Kevin Van Trump has over 20 years of experience in the grain and livestock industry.
Corn and Soybeans bulls have been excited to see several new cards hit the table the past few days: Very strong export sales data; Increasing dry-weather in some key production locations; Escalating fears of an early freeze; What appears to be bullish FSA Certification and Preventive Plant numbers. In and of themselves each card initially seems to be a winner, but considering they are somewhat of a card from a different suit, the verdict is still out as to whether we can pair them up with something we are holding in order to truly make a winning hand. Lets review:
I could go on-and-on, but I think you catch my drift. Yes, we have drawn a couple of nice cards from the deck, but we are going to need to catch something on the "flop" before we can start raising our bets. Personally, I am going to continue to "check" my hand and play it safe. Don't get me wrong, as producers, we are holding better cards today than we were a week ago, but we are still a long ways from drawing-out.
Click here to receive my daily report
No comments have been posted to this Blog Post