Cash Strategist 1/5/2023
The main focus of trade in recent weeks has been positioning for year end. This generated profit taking in the commodities, especially the grains and soybeans as sizable gains were made in 2022.
Funds also held sizable long positions in corn and soybeans during the year, which led to liquidation. The question in the market now is if these positions will be reestablished in 2023.
While possible, we may need additional bullish influences to make this happen.
Another question facing the market is what we may see for movement of farm-stored bushels.
Movement tends to increase late in the calendar year as cash positions are squared for tax purposes.
We also tend to see elevated movement right after the first of the year. There are reports of record amounts of deferred pay...
Members Only Content
Join Iowa Farm Bureau or login to view all members only content and receive other member benefits.