KS and NE in eastern 3rd | GOMSK - 2/6/2016 21:34
I will preface this with I am sold New crop 2016.
The low is coming. Don't shoot just my thought. Spec boys are long, and market has dropped? Hedge Pressure? But before this week I would have called this forum bullish. Thought was as bullish as I've heard it in a while. Not possible to go lower. Or no reason to. Just feels like we blow out the lows and scare some into making sales and completing Mr E wave 5? Still hoping to see your corn setup Mr E. Think a lot are thinking we chew into the corn ending stocks like in years past. Looking for them to raise ending stocks and scare sone of the new longs out of their positions to create the low. Just an opinion and gut feeling.
These hedges are borderline profitable to breakeven and I'm working on my bullish side. But looking for some type of washout and I will exit them and join the hope camp based on risk vs reward.
You thought this forum was bullish the prior few weeks? A lot of guys I've been talking to are considering hanging it up and some already have. There's been some ground coming up for rent and actually staying on the market for a week before it gets rented, that's unheard of. Just because guys haven't sold their 2016 crop doesn't mean they're bullish, I will admit I'm still working on selling 2015 crop. I sold 50% of it on the July rain rally and haven't sold any sense, hoping we can get another weather rally this summer to get the rest of it moved, but I wouldn't consider myself bullish, just patient. Trying to sell the rallies, just wish they would come a little more often. |
Positive
