CBOT corn owners to keep tight rein on stocks
CHICAGO, April 28 (Reuters) - Owners of cash corn are likely to retain possession, banking on higher prices as stocks shrink to the lowest since the 1930s and as U.S. farmers remain mired in mud instead of planting the new crop.
Firm cash markets and logistical snarls also will keep soybean deliveries to a minimum and a lucrative storage plan for owners of wheat also will keep wheat under strong wraps.
I think the sell-off may have been due to an increase in margins. If so, prices will soon rebound. We're seeing it even now in the wee hours of the morning! Note the firm buying in the chart!
