| Iowegian - 10/30/2018 09:46
Why take a chance on 2019? Just seems like a bearish year coming to me. That is why I am pre-selling Corn. Up to 25% APH already. Planning to continue at this point.
Hi Iowegian,
Why take a chance on 2019? There are two sets of higher lows on the continuous corn chart, after the abysmal failure of sellers in 2016 to take price well into the 2's. The Z19 corn has thus far stuck a HL and even the worst case projections into spring support that continuing. Prices job is to make higher highs against last years extremes at minimum and price has not had a larger degree price correction since the 2012 highs and the apparent higher low confirms that something has changed as price has not been able to sustain what it has been doing, once again supporting the idea that a larger degree correction is underway. The bean chart formation is very constructive as well suggesting a larger degree correction is very likely as well. And since price knows, my bet is everything will work out just fine. If If it works for operations and helps them manage risk, then it might be prudent. But I wonder if you aren't tainted slightly by your profession since you are likely immersed in uncomfortable circumstances more than you would prefer.
Take care |
Does it all come down to Soybean Exports?
