Over the last few weeks, we've gotten reports that drought and high temperatures are hurting the current grain crop. As a result, we're seeing price spikes across the grains complex. Corn (top chart) has moved through the 6.80 level and now has a lot of open real estate before it hits yearly highs. Soy beans (middle chart) are now at yearly highs, while wheat (bottom chart) has broken through the 7.00/7.20 level.
1 comment:
Out of curiosity, do you also day trade commodity futures ? Riding the wave of the current drought is an appealing idea but I'm concerned by the huge spreads.
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