Corn prices appeared to have finally found a bottom from the summer sell-off. Speculators were short the market in record numbers until late August, when they began buying back contracts, convincing some that the harvest seasonal low may be in. Then, exports increased in the last few weeks, and prices rallied more. While the bearish fundamentals of 1.9 billion carry-out and the massive amount of unpriced corn still linger, there isn’t much hope for a significant price rally yet.
Recent Corn Rally Artificially Propped Up – What’s Next?
