The stars appear to be aligned for grain prices right now. Several contracts have crossed significant benchmarks this past month, including corn ($4), soybeans ($10) and CBOT wheat ($6) futures.
A harvesttime rally is relatively rare, but it’s not totally unprecedented as we look at the historical data. But several supply and demand fundamentals have converged in recent weeks, giving grain prices a much-needed lift.
The real question becomes – how sustainable is the latest rally? Is there enough bullish fuel to keep up the forward momentum, or are there signs it will soon fizzle? We dig into the details in this week’s podcast.
Listen to the latest Midweek Markets podcast for October 21, 2020: