Corn closed flat today, giving up the overnight gains, probably on stock market weakness. Wheat closed up, but modestly. Soybeans closed down. This seems somewhat bearish to me. I had hoped that we finally broken away from the link to equity markets that has prevailed over the past few weeks/months. Apparently, weak demand imposed by a weak economy still bears sway in the food commodity markets. Monday, December 15, 2008
Grains GIve Up Gains
Corn closed flat today, giving up the overnight gains, probably on stock market weakness. Wheat closed up, but modestly. Soybeans closed down. This seems somewhat bearish to me. I had hoped that we finally broken away from the link to equity markets that has prevailed over the past few weeks/months. Apparently, weak demand imposed by a weak economy still bears sway in the food commodity markets.