Bower Market Strategy Report: A Sideways Trade Until Spring
The talk in the market last week was the new acreage estimates from the USDA. Jim Bower, with Bower trading, says there were not a lot of surprises in the numbers, “If there was a surprise it was that there were no big surprises. The market had been anticipating and trading the lower corn, higher soybean acres for weeks.” Bower added, historically, these numbers change significantly once spring arrives, “A truer number will be the perspective plantings report that will be released on March 30.”
Bower says right now the market seems to be ready to trade in a sideways manner for a while, “I think the market wants to settle down and see how things develop as we closer to spring.” He feels the market has dialed in the current South American weather situation and harvest potential.
For more information, contact Bower Trading at 1-800-533-8045.
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