Even though USDA’s supply and demand report on Friday featured little in the way of big surprises, corn and soybean futures closed the day with sharp gains.
Market analyst Arlan Suderman, in remarks made during a Friday afternoon webinar, said while he was pleasantly surprised with how soybean futures reacted, he also has some concerns.
“I am very concerned about near-term, especially soybeans. They are technically very overbought and USDA gave us no fresh fodder for the bulls today,” Suderman said.
