Initial price action is to the downside as Corn stocks came in about 8% above expectations and Beans about 5%.
We’ll let the a
Algorithms play with these Bearish headlines and then see where the market shakes out by the close.
Corn is limit down right now but the Acreage number mildly supportive as Beans print is over 1 million acres below expectations while Corn and Wheat were right at expectations.
97.3 million acres Corn
77.1 million acres Bean
56.4 million acres Wheat
A close off of limit down could be considered mildly Bullish going forward so watch the close – not the open.
