|
Buxton ND | A reversal close, nothing like a KR but its a start.
A reverse is just making a new low and closing higher on the day for those that don't know.
It did not stay below 3.48 very long.
I read strong rally into the close NOT just the last minute or 2 with a dam good sniff of exports biz.
3.55 was my best below, so with in a half cent is close enough to call it a good day ! ! !
I would like to see it gap higher (prefect place to) on Sunday evening but that is pushing it.
IMO exports may be the news for a small rally.
Then weather both here and world wide/back to EXPORTS, rinse/repeat.
ZCK/N spread has narrowed to .032 so some one want to own some corn !!!!! re-read the sniff part.
"I guess I'm cautious to tell anyone to sell all of their 2016 crop that they have not yet planted when the futures price is $3.50ish"
This is a comment by Dpilot83 that makes me think. Say I was a market advisory and broker, YES we can go lower, personally I can not tell someone to sell new crop corn at these levels. There's times when a broker should PUSH SALES and there's time when a broker should be twiddle his thumbs. There's been alot of bearish news tossed at corn since harvest yet we can't break AND CLOSE below 3.47ish. So when it held and bounced off that railroad track support,,, IMO its twiddle time. This is my opinion and MINE ONLY.
ZS yeah a nice rally, new high new closing high,, its just about into the gap area ? I have a "target order" in here in the gap area.
ZL new high new closing high and the spec money,,, ANOTHER ALL TIMER RECORD NET LONG lead by NEW longs buying.
The fund boys are/have been your friends here as well as the SA producers ?
Listen to M 2 M and see if they address what I asked in tweeter, this will answer the ?
ZM is the dog, ruff ruff.
Wheat, all wheat started, THEY STARTER the rally just prior to 1 AFTER what I call a little "HFT flush" a flush to blow out some weak sell stops.
MWE IS THE CLEAR LEADER HERE so let them dangle the carrot.
I did sell some wheat this morning, if it goes higher will sell some more old crop,,, rise repeat. Then new crop "Target Orders"
Now if your gonna switch corn to wheat, gonna sell any wheat ? ? ?
Biting that planting carrot too hard,,, without making some forward sales,,, has gotten your head ripped off the last 3 years.
I'm not a whiskey guy so I'm open to changing the carrot to "Coors Lite" | |
|
Get back to reality or not
