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| Is this a buying opportunity or is the corn rally over?
Markets took it on the chin as rumors are China is canceling wheat from everyone.
Soybeans looked like they were gonna continue their rally but closed -23 cents off their highs.
Markets don’t go straight up unless it’s a supply or weather scare driven rally.
There is absolutely nothing wrong with rewarding this rally, especially if you are someone who is going to need to be making sales within the next month or two.
Personally, I don’t believe this rally is over. I still see us grinding higher for a few weeks. However, if planting gets going early and smoothly expect this markets to take it on the chin pretty hard.
Looking more towards summer.. harvest was dry.. winter was dry.. forecasts are calling for a toasty summer. Our risk is that it magically starts raining after we get this crop in ground. If it doesn’t rain.. watch out...
Listen to today’s audio where we give our thoughts on if this is a buying opportunity or another rally that will get sold and ways to manage & spread out your risk
Listen Here: https://txt.so/N4z0D1 | |
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Market audio comments - buying opportunity or end of rally?
