Analyst suggests bearish sentiment ahead of USDA report could set stage for a bump

A market analyst suggests recent pressure on corn and soybean futures could bode well ahead of tomorrow’s USDA supply and demand estimates.

Karl Setzer with AgriVisor says historically trading down into a report results in a steady or better response.

“Looking at all the negative data that’s been thrown at this market (and) how much pressure we’ve put on futures, I would not be too surprised to see a little bit of a bump in the market.”

But he tells Brownfield that bump might not occur immediately.

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