The combination of double-digit gains in both July and December corn contracts and the engulfing candlestick pattern of the prior day's close are indicative of a market that perceived and attempted to take advantage of overextended conditions. General Comments A decline in price commonly facilitates market discussions about supply factors such as how increases in yield can lead to increases in ending stocks, assuming all other factors remain constant. Of course, there are no constants in price discovery except for the fact that both supply and demand are always two sides of the coin. Price movement tends to become particularly active when one side is increasing and the other is more stagnant. In relation to supply, U.S. corn yields curren...

TAGS – Feed Grains, Soy & Oilseeds, Wheat, Livestock, Biofuels, Energy, Asia