WASDE Tomorrow, Trade Eyes Positive Bean Sales, Crude Adds Pressure to Corn and Wheat December 8, 2022
Despite all of the talk about tight crude oil stocks, as well as tight stocks/usage measurements like we follow in grains, the market has its own beliefs. New lows for the six-month downtrend were reached today. The lowest close yet of this downtrend were reached today. For whatever relationship there is between energy prices and grains this is a slightly negative influence. Ahed of the Fed meetings on the 13th and 14th the trade believes interest rate rises remain, even if a little more muted.
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