Money Flows Into Agricultural Commodities
From @AgsPlayers on Twitter:
This is significant activity that totals nearly a billion dollars. Someone was putting money to work today, or at the very least, covering short positions.
The S&P GSCI Agricultural Index rose 1.21% and the chart has the look of a bullish flag resolving to the upside:
Although today was a good start, one day does not make a trend. A move above the falling 50-day moving average and making a higher high above 290.93 would offer some reason for ag investors to get excited that the 4+ year bear market is coming to an end.