The grain markets are pulling back on Thursday after reaching fresh highs. Van Ahn and Company market analyst Kristi Van Ahn is expecting a choppy trade to continue in the grain markets. “It’s not just about fundamentals. There are other sides of things like technicals holding big weight about the resistance point and the market also needs to bring in fresh buyers. When managed money is aggressively long, you have to tempt them with a reason to come in and press the record.” There may not be a lot of big crop reports to spur the market until spring. “There’s a March 31 report from the USDA, but then, we wait until May to see new crop carryout numbers posted.”
Subscribe to RRFN
Get a weekly digest from RRFN to stay up-to-date on all the latest news in agriculture.