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Analysts see bullish corn fundamentals lingering **VIDEO**

Agriculture.com Staff 04/26/2007 @ 8:54am

Rain across the Midwest will continue to create problematic planting delays, stressful cold and damp conditions for winter wheat, market watchers said.

During a recent visit with Noel Blue, analyst/broker on the floor of the CBOT, she said producers should keep in mind the Index Funds keep the bullish tone active once the weather and planting fundamentals fade.

Adding to the bullish tone are Thursday's corn, wheat, soy, crush exports, all lending additional support to prices. On Thursday, Blue said more buyers are expected to be in the market and sees volatile range expansion due to short covering and a continuation of speculative buying across the board.

Meanwhile, Roy Huckabay, Linn Group executive vice president said the psychology of this corn market still knows a lot more corn needs to be raised.

Huckabay says as producers head to the fields, they should keep a close eye on the corn market, but wait for that next surge higher before selling.

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