[Listen] Gordy Ag Market Recap It Could Have Been Worse
It was exactly one week ago we had corn and beans on their highs and everything looked optimistic. Technically both corn and beans were over bought and due for a correction. Traders were talking about another COVID-19 shutdown, Congress will be spending all their time fighting about a Supreme Court Justice and not another stimulus package. Plus of course there was also "harvest pressure" just ahead as the weather is cooperating.
There was some good news last week. There were daily export sales announcements by the USDA almost every day. Plus, the weekly export sales of corn and beans were the largest I can remember. China continues to buy corn, beans and pork from the U.S. It was also encouraging that the technical charts at this point still indicate this is a correction.
Click on the link and listen to Gordy talk about the ag markets last week.