There is nothing pretty about agricultural markets right now. We don’t have any upside incentive from fundamentals and now macros are falling to pieces. With US jobless rates climbing and no real threat of inflation there is no incentive to buy. With prices relatively cheap there is little incentive to sell, thus we are stuck in a range. I still feel we are entering a timeframe dominated by spreads and relationships. Watch the beans corn relationship for best action heading into planting.

This entry was posted on Thursday, February 25th, 2010 at 11:54 am and is filed under Grains. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.