Soy, corn, and wheat rising
The tone is set for further price gains in grains. Hedge funds, commercial traders, and individual investors are positioning for further price gains. Corn has been trading at 12months+ highs, soybeans have kept rising higher fuelled by a potential Biden win, and corn hit an 11% gain in Q3. Corn has traded at a 14 month high and wheat is at its best levels in five years. Taking a look at the recent Commitment of traders reports it shows that non-commercial participants are anticipating a further rise in prices.
The future prices incline to positively correlate with the positions of non- commercial traders. So, in this environment expect buyers on dips across the gains.
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