Commodities
Wheat and Corn Prices Surge: Walsh Trading's Rich Moran Sees Buying Opportunity
The DEC Wheat-Corn spread (ZWZ26-ZCZ26) has seen a recent surge in price, with both wheat and corn making 52-week highs over the last couple of days.
Rich Moran from Walsh Trading notes that the talk on the street is $6.00 Corn, but this remains to be seen.
Moran also mentions that every wheat farmer he speaks with has had little to no luck with their wheat crop this year, and while there's disappointment with the corn crop, it's not quite at the same level.