Corn prices have been under pressure for most of the summer. According to one analyst, the grain is being undervalued and things could shift by the end of the summer, reports Ag Pro.
“When you look at the [USDA] numbers themselves, and if you're going to look at it from more of a fundamental perspective, we are severely undervalued,” Steve Georgy of Allendale Inc. told AgDay host Clinton Griffiths.
According to Georgy, emotion is driving the marketplace.
“Getting wrapped up in the emotion, the selling of just panic and fear, that's really what [this market has] become,” he said.
