Loading…
Dr. Duru argues that the rally in corn has likely peaked, noting that the Teucrium Corn ETF broke below its 200-day moving average after a failed breakout. Money manager net long positions in CBOT corn futures and options rose sharply to about 233,063 contracts through March 13, the highest since mid-2016.
Heavy speculative net long positioning means prices could fall if fund buying stalls. The drought in Argentina and strong US export demand remain the main upside catalysts for corn.
drduru.comDr. DuruMar 20, 2018Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
