The director of producer brokerage for CHS Hedging suggests this week’s volatility in the futures market could be a precursor to a bearish USDA supply and demand report tomorrow.
Speaking to Brownfield around midday Tuesday, Kent Beadle said he expects some sort of correction because of high prices.
“Certainly it felt that way yesterday when we were in the midst of the corrective activity that we had. Given the strength that we’re having again today, it probably raises the possibility to having a bearish reaction tomorrow.”
But he says the market remains well-supported.
