- Algorithm-based investment programs have not evolved as far beyond being simply driven by headlines as I had thought.
- Fundamentals win in the end, with merchandisers refusing to play along with the fund-led rally in soybeans.
- US available stocks-to-use of corn remain tight, though a larger harvest is on the horizon.
What a week this has been. And we still have much of Friday ahead of us before the closing bell sounds and we head off to our favorite watering hole to contemplate all that has happened. Lost in the chaos of news out of the Black Sea region has been the Dow Jones Industrial Average ($DOWI) rallying to a new 15-month high, the US dollar index ($DXY) falling to a new 15-month low, and September frozen concentrated orange juice (OJU23) hitting a new all-time high of $3.00 (per pound). It was the grain and oilseed sector, though, that garnered most of the attention, with markets reminding us of three important things heading into the weekend.
