US Soybean Crop Report Wishful Thinking
Jul 22nd, 2008 | By Kevin Kerr | Category: Featured, Financial NewsCorn and soybeans fell nearly 3 percent yesterday, according to Reuters, “as risk premiums built into the market in case of crop failure peeled away as favorable weather in the grain belt boosted production prospects.”
Soybeans have been extremely volatile to say the least, says commodities expert Kevin Kerr in Whiskey and Gunpowder.
The problem, says Kevin, is that all the rosy crop reports won’t come to fruition once harvest time rolls around. He says they’re just a lot of wishful thinking…