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6.75 dec13 corn
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jeremeyfrost
Posted 11/8/2012 13:29 (#2685950 - in reply to #2684524)
Subject: RE: 6.75 dec13 corn


onida, south dakota

very unlikely that this report is a big enough catalyst to move new crop 2013 much higher then resistance areas..............if the report is bullish you should see the old crop or 2012 crop rally............2013 will follow but not near the extent ............to get 6.75-7.00 Dec 13 corn...........we will have to have much higher Dec 12 or March 13 corn.............probably 8.00-8.50 to see Dec 13 at 6.75-7.00............. and it might take acre war or weather scares (planting premium) to actually see it happen
 
remember that Dec 12.........was more then comfortable being 6.00 - 6.50 or less for most of last year despite the high prices seen for 2011 corn...........it wasn't really until drought hit in June that we took out the 6.50-6.75 area............

bottom line is we need a major catalyst to see 2013 Dec corn rally anywhere close to this years highs...........not saying it will or won't happen.........but no reason for it to happen any time soon

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