Traders continue to carry a large short position in the grains, which could trigger a short covering rally. “We’re looking for a catalyst, we have been for awhile. It could happen toward the end of the month, when we know more on acreage,” says Lakefront Futures market analyst Darin Fessler. “It all depends on how spring sets up.” Fessler also thinks prevent plant will be in play this spring.
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