[Listen] Gordy Weekly Ag Market Recap Frustrating!
Both corn and beans only lost a few cents a bushel last week but it seemed a whole lot worse. There were huge export loadings of corn and new export sales announced by the USDA and still corn remained range bound just going back and forth in a fairly narrow range. It was quite frustrating that the corn market did not respond to bullish news?
The volume was also much lower than normal last week. Maybe traders were frustrated too and just stepped to the sidelines and will try and get onboard if we begin to see a rally? They may also be taking a "wait and see" approach for the USDA reports on Wednesday at 11:00 am. These are two of the biggest market moving reports of the year as the USDA releases the Perspective Planting and the Stocks Report.
Click on the link and listen to Gordy talk about the grain and livestock markets last week and also the USDA reports on Wednesday.