AgDay TV Markets Now: Matt Bennett, AgMarket.Net discusses where ending stocks and prices project to for corn and soybeans after USDA’s shocking shift in acres.
AgDay TV Markets Now: Matt Bennett Calculates Where Ending Stocks and Prices Project to After USDA’s Shocking Acreage Shift
AgDay TV Markets Now: Matt Bennett, AgMarket.Net discusses where ending stocks and prices project to for corn and soybeans after USDA’s shocking shift in acres.
June 30, 2023 10:32 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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