AgDay TV Markets Now: Dave Chatterton, Strategic Farm Marketing, says corn ends higher, soybeans lower on Thursday on profit taking, spread unwinding and correcting the corn/bean ratio. But markets are also determining balance sheets pre-WASDE.
AgDay TV Markets Now: Dave Chatterton Says Corn Ends Higher, Beans Lower on Profit Taking, Spreading, WASDE Prep
AgDay TV Markets Now: Dave Chatterton, Strategic Farm Marketing, says corn ends higher, soybeans lower on profit taking, spread unwinding, correcting the corn/bean ratio. Plus, determining balance sheets pre-WASDE.
July 06, 2023 04:29 PM
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Shawn Hackett of Hackett Financial Advisors says with wheat falling nearly $2 off the Sept. 2 contract highs, it isn’t a surprise that China and other buyers would see it as an opportunity to buy.
Darin Newsom, senior market analyst with Barchart, says the funds set the direction of the trend the problem is they have skewed the markets to the point that the real fundamentals in agriculture don’t really matter.
Mark Schultz of Northstar Commodity, says the corn market may be running out of sellers as the funds have liquidated a big chunk of their long position. However, it is too early to call a bottom with corn harvest still underway.
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