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| The responses should be making you feel pretty good, hedgefund farmer. Exactly what you would expect to see if you are right, wouldn't you say?
While beans still look extremely bullish longer term, especially meal, the roll adjusted contract (meal) just make a ten month move up, and, IMHO, this should be a warning flag. Longer term, however, the roll adjusted contract sure looks like it is on an exponential path towards a blow off top - but that's longer term and a monthly chart.
So far, corn has made only a minimum replacement, stopping about perfectly at the .38 level. If the El Nino does continue to develop by mid-summer, there could be a lot of corn around by fall.
Anyway, I just wanted to say that, if you turn out to be right, the posts here (in hindsight) will have seemed to have validated your outlook.
Just my opinion, of course. | |
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dont look a gift horse in the mouth
