Posted 5/20/2015 14:48 (#4581934 - in reply to #4581905) Subject: RE: Speaking of the Wheat market..
NCND
I think sat had been talking about it for a couple weeks.
Jp is always pointing out the possibilities and such. He's been a great teacher and brings up very valid points often.
As my chart above jp just pointed out it snapped back. Wheat snapped back too but was it real buying? Nope just covering. Sat would prove it also no net new buying. Perhaps this acts like beans last October and we stall going down here and Pop 10% or so and then continue blasting down just like beans are doing now.
So you were wrong for 3$ Down and now 60 cents up makes you right?
How about beans Jon. You weren't planting any unless you got $12. So I'm assuming now that you have the moisture you said would never come will you just leave ground fallow behind failed wheat or will you grow the corn you didn't earlier have the moisture to plant into adm you asked everyone else to keep up your end of bargain on ethanol?
I saw also where milo took one in the shorts last week too basis wise.
I'll go back and forth bullish bearish. You've been the horniest bull ever since I have read here.
I give wheat 10 more cents and whammo out she goes continue back down. If I'm wrong I'll admit it. Won't blame traders or whomever. I'll wait for another point unless I see something that really changes my mind.
I've adamantly stated until we close over 625 dec mgex I don't care. When we do I'll rethink.
We still have snow in ditches here right now and it's 66. I'm not talking down the wheat crop or corn or bean crop as FUNDSMENTALLY we have plenty of all of them!
Will you ever admit you've been very wrong? Don't think so.
Lines are cool, but market structure rules
