Grain > Commentary > 3-5-2024

3/5/2024

Mar 05, 2024

You could call Tuesday's trade a small flight to safety for the fresh buyers after Monday's price action failed to further our rally.  May corn is getting a little squeeze between the 10- and 20-day moving averages and Friday's WASDE report could fuel a small breakout.  There were no USDA reports or announcements today and trade was about positioning ahead of the report.  We have not seen the full trade estimates for Friday's report but most are looking for a small cut to corn ending stocks and a small increase to soybean ending stocks.

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