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Mike Florez on corn.
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jpartner
Posted 3/26/2015 12:23 (#4478294 - in reply to #4477733)
Subject: RE: Mike Florez on corn.


Corngrower89 - 3/26/2015 06:17 Watching ag day and Mike is saying we have have been in a bearish market since June of 2012, and have finally bottomed. He's saying we will see at least a 65 cent rally by the end of May. What do you think?

I think it depends on where he is originating his rally from.  To me, price has exhibited about 27 cents of stored energy (action), and since balance is nearly horizontal, we can roughly double the number which is 54.  He stated end of may which means July is front month, so add .08 and you arrive at 62 cents, and the ML rests at 4.33 or about .68 above the low of the pullback to date.  So, if he stating .65 from here, I struggle with that, but .65 from the lows, very possible IMHO. 

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