Corn has been a prime beneficiary (along with Sugar) from proposed ethanol production. Thus farmers have been more enthusiastic about planting C than S. HOWEVER: Crops MUST be rotated every other year or less the soil suffers. Severely. Hence many farmers will be back in beans next year. That's why beans are lagging.
Squirrels accurately predict bumper harvests http://www.wnd.com/redir/r.asp?http...rrels-accurately-predict-bumper-harvests.html
I was amazed that no one had posted here. Amazing day! I imagine a lot of people got shaken out by the drop just (barely) below recent lows. Still, it bounced back fast and I guess that tells you something about the demand. Sure was a nice way to wake up!
Demand for the contract maybe, but not so much demand for beans. There will likely be 33% more ending stocks than any other year in the last 20. The real story is the split between meal and oil today. Wow...
Thats why I don't trade solely on fundamentals. That was the same argument that everyone was using when beans were at 550. All I know is its going up.
Agree. Corn has acted the strongest, has the best newsflow, and has the ethanol story to give it extra juice & speculative appeal. It makes no sense to buy beans or wheat when they are acting weaker. IMO corn is going to at least the old highs around 550 from 1996.