Posted by: usset001 | January 8, 2009

Bulls and Bears in the corn market

poll-resultsTwo days ago I asked readers to respond to a poll and predict the price of Dec’09 futures on June 1, 2009. The response has been great – 132 people expressed an opinion! The results show that the electorate is split, but I’m not talking red or blue. This time the split is between bulls and bears. About 46% of respondents think prices will go lower, with the largest number of votes for the $4.00-4.50 range. A substantial number (37%) think prices will go higher, with a pretty substantial vote for the $5.00-5.50 range. Surprisingly few predict a price close to where we are today.

Keep in mind that the price of Dec’09 corn traded in a range of $4.50-4.70 as people were voting. I will keep the voting open for a few more days.

This is interesting! Next time we try it for soybeans.

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