One of the primary purposes of daily trading limits is to suspend trade when emotions get out of control, causing prices to move more than what is justified by the fundamentals. Such was the case today, when economic fears caused fund managers to sell most commodity and equity markets. Yet, there's little support for declining demand for the basic food commodities in a recession, which is held up by global data from 2008 and 2009. Yet, prices stretched beyond the old 30-cent daily trading limit in the Chicago corn pit today as fear trumped the fundamentals.To listen to Arlan Suderman and John Jenkinson talk about the day's markets use the audio player on this page.
Arlan Suderman is Market Analyst for Farm Futures magazine and FarmFutures.com. He has served on the staff of Farm Progress Cos. since May 2000, providing market analysis and commentary for its family of 18 state and regional publications. His Afternoon Recap provides market analysis on this site each afternoon that the grain trade is open. Suderman also provides real-time market commentary via Twitter at twitter.com/ArlanFF101. Suderman brings a wealth of hands-on experience to the table after completing his Certified Crop Advisor status in 1997 while serving in the Kansas Extension Service.
John Jenkinson is Senior Farm Broadcaster for "The Ag Network." John grew up on an irrigated and dryland grain farm in Southwest Kansas. With an early passion for agriculture, he was active in the FFA,4-H, and went to college to pursue agriculture. In 1997, someone mentioned that he should look into farm broadcasting as a career, and that began a new chapter in his life and he eventually became a board member of the National Association of Farm Broadcasting. The stations that John has worked at are legendary farm radio stations with deep agribusiness roots, KFEQ, KSIR, WIBW, KXXX, KMZU, and KBUF. In April of 2008, John started "The Ag Network" with 3 affiliates in Colorado, and then added stations in Kansas and Oklahoma. Today, "The Ag Network" is still growing, and John is hosting two live farm talk shows, as well providing 12 farm programs a day for affiliates. He also produces a daily farm television program for a statewide network in Kansas.