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Buxton ND | "Basically when the Trade realizes that this year's crop isn't going to be UBBER WONDERFUL at 166.8+ yields.. will the door be big enough for all the shorts to get out?"
Jon, this could have been said last year also**********
There are those out there that thought USDA would have raised the yield on the last report over that 166.8 because of the fast planting pace.
Last year Good to excellent ratings were 62%
This year 74% G-E, early planted, rains and good ratings I sure don't see any race to get to the exit door.
We had seen our first weather rally (freeze) and it did not do JACK, IMO we got a little look see at what traders will do with small weather troubles. Whether the crop is over or under 166.8 in the end right now the trade does not care.
When we look at the big picture in corn, we are still very well intrenched in a long term bear market. We have not even gotta into a side way pattern yet, yeah that maybe sounds doom and gloom but that's a fact Jack. MA's whether daily/weekly or monthly are still moving lower,,, that's the facts.
Saying that IMO corn IS NOT as bearish as it was 2 week ago. Not that I'm bullish, just not as bearish.
I do like Redoaks comment from below tho,
"Stay the course and don't panic and plan on being the last man standing..........." | |
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Crop looks like crap.. are we slipping below 160 bu yields?
