The yield penalty story is bigger than the market wants to acknowledge, says risk management consultant
Corn and soybean futures at the Chicago Board of Trade may have run into some profit-taking resistance, but underlying concerns over wet fields and lost acres should keep the general uptrend in place heading through the summer.
“I don’t think this weather story is anywhere near over,” Preston Zacharias, of CHS Hedging’s Russell Consulting Group in Minnesota, toldThe Western Producer.“It’s not like a drought, when you can fix it with one rain.”
He adds, “I think the Prevent Plant story is bigger than the market wants to acknowledge, and I think the yield penalty story is bigger than the market wants to acknowledge.”
Read the full reporthere.
US Corn Price Idx:ZCPAUS.CM
open: 7.1569
high: 7.1769
low: 7.0383
close: 7.0879
US Soybean Price Idx:ZSPAUS.CM
open: 16.1261
high: 16.1761
低:15.932
close: 16.0968
US Hard Red Winter Wheat Price Idx:KEPAUS.CM
open: 9.8973
high: 10.0473
low: 9.7533
close: 9.8922
US Soft Red Winter Wheat Price Idx:ZWPAUS.CM
open: 9.693
high: 9.8817
low: 9.5537
close: 9.6458
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