Markets end week higher
The markets just concluded a decent week of trading, due to some new weather concerns.
“It was a pretty nice end to the week after all of the fluctuation we have seen,” Merrill Crowley of Crowley Commodities in Watseka told The Central Illinois Farm Network on Friday.
Crowley is trying to figure out all of the “noise” surrounding the markets so he can get down to the facts. Prices moved above resistance for the past couple of weeks then back below that area only to move up again.
“The price declines we saw Wednesday and early Thursday had me thinking the rally could be over, but then another forecast announced a warmer and drier summer.”
If we expect prices to rally toward profitable levels, we need to figure out how things are different this year, according to Crowley. The weekly crop condition rating can provide a guide for how the markets may move.
Crowley Commodities in Watseka can be reached at 815-432-2220.