Just wondering if anyone can shed some light into why the prices of grains suddenly increased? I am looking at the contracts and Dec Corn futures currently trading at $6.90 while for the last one month it maintained a range between $6.20-$6.30. Soybeans and wheat are also the same case. There is discussion of some corn acres going into beans because of late planting. If so why beans are increasing? I am waiting for a pullback but it is not happening. Just curious. Thanks for your replies.
2 reasons i can think of oil is SOARING (ethanol) and Iowa is flooding like crazy cornfields are now lakes
argentinian farmer strike and us rains for beans, corn is rain as well. Wheat was oversold and commercials are beginning to hoard. let it ride!