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Barchart
Barchart
Jim Wyckoff

Have Corn, Soybeans, and Winter Wheat Already Topped? What to Watch in the Week Ahead.

USDA United States Barchart

Grain futures markets traders on Friday got their first major USDA economic data in well over a month and then promptly sold off to end the trading week. The agency’s monthly supply and demand report (WASDE) was not significantly bearish, it’s just that grain traders were hoping for and even had priced in a bullish report. 

Also, given the recent rallies in corn (ZCZ25), soybean (ZSF26), and winter wheat (KEZ25) (ZWZ25) futures markets, they were due for some corrective, profit-taking pressure from shorter-term traders.

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