2024-04-23 13:23:34 ET
Summary
- USDA's April WASDE report maintains high South American corn and soybean production levels, contrary to private analysts' expectations.
- Bearish trends in corn and soybean prices continue, presenting a potential opportunity for counter-trend long risk positions.
- Wheat prices remain under pressure, with global wheat stocks forecasted to be the lowest since 2015/2016.
- Teucrium Wheat ETF is the fund that tracks a portfolio of CBOT wheat futures prices.
The U.S. Department of Agriculture, a key player in the agricultural market, released its highly anticipated April World Agricultural Supply and Demand Estimates Report on April 11. This monthly WASDE report, often considered the gold standard for agricultural commodity fundamentals, can significantly impact market trends and prices. The full text of the April WASDE, a valuable resource for investors, is available through this link ....
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Grain Futures Markets Are Short: WEAT, Other Grain ETFs Remain In Buy Zone