Commentary: The corn rebounded today. Will this end the long decline?The biggest question is the domestic loss of Ethanol demand. The question of the US opening back up is important. The export pace has been reasonable. The USDA will release supply and demand on Thursday. There are many who look for an increase in stocks. I present some food for thought that may present some friendly opportunities for participants. It appears much of the bearish concerns could be baked in the cake. If the USDA reduces the stocks for any of the reasons that were reviewed over the past year. That would be a surprise to the market. In addition the Argentinian crop appears to be a bit reduced. In addition collecting this years crop in SA is proving difficult. The lock down due to the corona virus is making movement of people and machines difficult. This could prove friendly to the market if it continues.
John J. Walsh
President, Walsh Trading, Inc.
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