Posted 3/4/2024 10:12 (#10650941 - in reply to #10650885) Subject: RE: Funds starting to cover.. how high? $1 Corn.. $2 soybeans??
S Illinois
Funds covered 40k at the end of Feb and due to farmers pricing basis contracts, price still fell. A 50 cent rally will allow for a ton of funds shorts to be covered. Will take weather and them going long to get that dollar in corn.
Edit: 2014 also had a sub 1.2 billion carryon estimate in the May 2014 WASDE. The 2013 crop didn’t fix the supply situation from 2012, just put a bandaid on it.