Thursday USDA report important
Before the weather becomes an even more important market factor this season, everyone will be watching what USDA has to say on Thursday.
Merrill Crowley with Midwest Market Solutions is looking for a cycle low the last week of May or first week of June.
“Sometimes, cycle lows invert to cycle highs,” Crowley said.
Crowley feels the report will tell whether the cycle lows invert or not. The corn pile is shrinking, but it has yet to be determined if it will shrink enough to push prices higher or if outside influences send prices into the tank again.
“The key is risk management,” Crowley adds. “I am reminded of the old saying: never put all your eggs in one basket.”