[Listen] Gordy Ag Recap Another Good Week for Grains
It seemed really unusual with harvest pressure and November bean options expiration it was a very good week for beans and corn too. So often when there is a large options expiration like November beans the market works down to a lower strike price. That means a lot more call options would expire worthless. Today right at the close November beans rallied from about unchanged to up 13 cents? Beans settled up only 10 cents but it still was quite a rally!
In the same time period corn rallied from up around 2 cents to up 6 cents. It is hard to get your mind around how quickly things have changed. Remember early last summer December corn was at contract lows of $3.20 a bushel. Corn has rallied about one dollar a bushel and we have $10 cash beans during harvest!
Click on the link above and listen to Gordy from Chiodo Commodities talk about the ag market action this last week.