AgDay TV Markets Now: Jim McCormick of AgMarket.Net discusses what the grain market is signaling with higher weekly closes after the bearish WASDE.
AgDay TV Markets Now: Jim McCormick Discusses What Higher Weekly Closes After the Bearish WASDE Are Signaling
AgDay TV Markets Now: Jim McCormick of AgMarket.Net discusses what the grain market is signaling with higher weekly closes after the bearish WASDE.
July 14, 2023 06:21 PM
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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.
Greg McBride of Allendale says corn and soybean futures are trying to bounce as they are oversold, the key is what will it take to bottom the markets?
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