New Crop Spreads and Managed Money Defy Market Technicals

As cold weather continues to grip the Midwestern United States, it is hard to believe that winter will ever end. The next two weeks are likely to see a continuation of frigid temperatures especially in the mid-west. While winter comes to a chilly close, farmers and hedge funds are planning for spring right now. 

Farmers are evaluating new crop prices which are the November futures contracts for…