🌽Corn most expensive in 8 years❗

10:49 AM May 3, 2021

🚀Grain prices continue soar stoking inflationary concerns.

Corn, +2.5% today, has just opened another week with a bullish gap extending the rally to more than 120% from August 2020 lows. How far may it go? We can see from the COT data that speculative positioning is extreme (like on anything today…) but we can also see that high level of speculative positioning itself wasn’t enough to trigger a reversal in the past. Actually, it was a decline in net speculative positioning that produced a signal. Investors have the COT data on XTB platform so it’s certainly worth watching.

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