The funds (big stack, smart money, pros...) have to be on edge. They are short. Running out of bullets to protect their investment.
Fundamentals stacking against them.
HRWW crop is in trouble. Low acres. Disease. Conditions only reported on some acres.
Hard getting the corn-bean crop planted and going but it will happen? Pretty good yields already pimped in.
Big story out that the Brazilan real was losing value so that would cause all the Brazilian farmers to sell all their beans. Media Bullet. Market Dropped 30 cents. Logic has been that if the value of the dollar dropped, price of grain would be supported since we compete on a world market. Lower currency, higher price per bushel. Wait, how can both situations be true?
The dollar is at a low level. Anyone look at the export business? Livestock numbers? Where are the headlines?
I'm getting tired of hype and fake news.