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central ontario | He was a big bad bear over a week ago someone posted
Corn and beans are in break out mode,so selling could be too early,trading this type of market is nuts it has been a buy and hold for about 9 days,not a long time.
How long this lasts is the million dollar question,no one on this board has the correct answer,we can all put up targets,measurements ,whatever,display we knew this already last year,most of that is BS.
The weather is in control of our destiny each and every year,that is the controlling factor in the production of bushels,the so called energy factor is still controlled by weather not energy controlling weather,if we would have had normal,great planting weather we would in no way be making new highs on crop prices at present.
But it was horrible weather to start the season with production problems in numerous areas globally which is the fundamental driver not the local issues being presented and of course the dryer weather then the market specs were expecting,so less bushels produced.
The CCI index may come into play and divert money flows back to the buy side,the funds were so confident they had the bull tamed they kept on selling this grain market all spring and are confronted with a goofy short position and weather problems.
Targets have been mentioned by many,I will quote fry 5 plus and teens for beans,weather may give us this very easily,for further info contact fry.Lets pass the buck
This in no way directed to anyone ,just market ramblings and nothing else.
Good luck everyone!
Edited by Andre54 7/10/2017 06:45
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What if forecast is accurate?
