[Listen] Boring Week For Corn and Beans
When you just look at the market action for both corn and beans last week you would assume it was a non-eventful week. Corn and beans ended about where they started Sunday night. With "some" rain in the forecast the market was not concerned about really high temperatures, even during pollination.
It was very disappointing that the market did not pay any attention to all the corn and soybeans that China bought from the United States. There was a USDA daily export sales announcement every day this week! Traders attitude was we have so much available we are not going to run out before harvest. Plus of course there will be another record crop out of South America next year too!
The attitude of traders and the media is very negative right now and I am not sure what could change it? Click on the link above and listen to Gordy discuss the Weekly Ag Market Recap!.