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Corn Beans AND Wheat - Energy Level Update
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jpartner
Posted 8/3/2015 14:12 (#4714126 - in reply to #4713853)
Subject: RE: Corn and Beans - Energy Level Update


frytownfarmer - 8/3/2015 09:05 I nominate you "most unpopular poster" for agtalk after this post! Don't you know your only supposed to post bullish stuff even if it's only bullish for a few days? My question is: how odd was this run up? That was a massive jump and crash in a really short time! Was looking back at the history of corn and seems a bit unusual for this market... Thanks for your time

Hi Fry,

Could be.  I think that award was handed out a couple years ago with the sub $3 corn, single digit bean talk when prices were multiples of where they are now.  It came with the looney award....  :-)

The rally that we experienced is pretty text book really for this formation.  Falling head over heels to get theirs, only to get "theirs" handed to them.  If you find formations that bag the minors, or the fake structures, generally you will find this type of price action.  This one is just bigger.  Load a wheat chart and look at it's rallies.  Most all the rallies in the last several years are like this,..straight up bagging a level, then straight down.

Take Care fry

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