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Northwest Iowa | Take a big picture look at this fellas. Pull up the weekly or monthly charts. The market needs to spend some time along with the price to balance it out. This is a large bear market rally. Since Aug of 2012, corn and beans have been in a bear market. The first objective or Wave A was met last fall with beans at 9.04 and corn at 3.18. The "B" wave we are now in should get 50 or 62% retracements before it is all done. Corn lost 5.25 and beans lost about 8.70. Fry has the right idea, but this correction should end up lasting well into next year. Puts are OK- they will let you and your banker sleep. Have a plan if you are forward contracting significant amounts. How do you change your plan? | |
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They turned the corn green on the close
