Tech Guy Opening Calls 4/23/23
- Tech Guy
- Apr 23, 2023
- 1 min read
I am following the May contracts for a few more days, while at the same time starting to look at the July contracts.
May Wheat - Steady
May Corn - Steady to 1 Higher
May Beans - 1 to 2 Higher
Will there be any fireworks when the contracts roll over? It seems as though your expectation of a higher move in old and new corn is going to happen at the same time the market realizes the planting pace is starting to slip. When fundamentals and technicals indicate an impending move in the same direction I would expect you have higher confidence. What about a year where they indicate opposite moves. 2012 comes to mind where we were tight on old supply but planting progress was way ahead of schedule due to the early warm up (which turned into bad drought).