World Perspectives
feed-grains soy-oilseeds wheat

Where Have All the Bulls Gone?

It has been a very tough few weeks for grain and soy market bulls, assuming there are still any left. Those markets have been in a rather steady retreat with hardly any respite, although they have managed a bounce today. Along the way, the wheat and corn markets have set a series of new contract lows. Historically, this sort of price weakness is relatively unusual at this time of year. Seasonal price trends point higher as spring planting approaches, but that is not the case this year. As a measure of what has happened in the last month, consider the highs and lows for the lead May contracts for soybeans, corn, Chicago wheat and KC wheat. The highs for both Chicago and KC wheat were on 13 February, while those for May corn and May soybea...

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