The Corn Market Gets Emotional

Van Ahn and Company market analyst Kristi Van Ahn says there is a lot of emotion tied to the corn market. “We caught too many people leaning on the bull trend this past week. It’s not surprising. This comes at the heels of the corn market making headlines on CNBC on the price.” The attention drew outside money into the market. “People were ramped up with the thoughts of $8 to $10 corn. No one is saying that can’t happen, but it caught too many people leaning at that point. Managed money was aggressively long and that started to liquidate. Then, when the rains started, it brought out sellers as well.”