The key question is, it possible for the Agricultural sector to stabilize and to start going up during the next two months. The multi-year short trend and the expectations for worst crops in the US may cause the prices of agricultural to rise. The demand and export from the USA are at record levels and the price of Oil could have found a bottom for this year. The only thing that remains is higher prices of the Agricultural sector.
The crop for cor is during July, the beans are during August and the wheat is all the time. The consumption of wheat is the highest of all other, and it is at a 7 year high, however the agricultural sub index is still at 11 year low and this situation would not last and will change, the short trend would probably not last for very long and we might see higher prices of wheat.
The price of the commodity might break a 5 year bearish trend and go up.
Source: Bloomberg Pro Terminal
Trader - S. Fuchedzhiev
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