Thursday 4/7/25
Grains:
Post USDA on the 3/31, we have had a nice rally back in CK, despite a very bearish USDA planting number which estimated 93.6 million acres will be planted by US farmers this spring.
That report capped off a 27 cent down-draft and new contract and multi-year low for corn.
Two things I’d watch:
1) The managed funds are still short 150K contracts of corn. A 15 cent rally in CK from the low over the past 8 trading days has yet to spark major short covering by managed funds.
2) Technicals: The favorite of many traders and analyst, […]