Market activity over the last three months has been dramatic in commodities and in equities.
The November USDA Supply and Demand report had major surprises for the corn and soybean markets, and consequently, long-term availability of these commodities is a potential concern.
As we look ahead to the next 12 months, we ask ourselves if the market is forming a bullish mind-set, or are bears are just waiting for the right opportunity to pounce and smother prices?
As a buyer of corn and protein products, the question you now face is: Should you jump on board and purchase, or hold off?
Corn prices have rallied near 90¢ despite current forecasts for this year’s crop to be the second largest on record.
The trend of projected carryout has declined two consecutive months and corn prices have recovered, trending higher during the same time period.