NE Iowa | "these mega 3X bulls will be taught lesson."
Hi Sat, since I've been somewhat vocal about being long board, bin, and field, I'll lay it out for you so you can get out of the pulpit.
Long cn from 3.77 with stop currently at 3.80 to protect profits, so ok there
Have basis set on corn in bin and have been legging it off on this rally toward 4 bones where I see resistance, which I explained in a post over the weekend, so doing fine there
I had a Market Premium Plus contract on corn in field with a min/max price, which you despise, that I got knocked out of. That's ok, because my ave. on those bushels is $4.24 cz16 with basis to be set yet. So, ok there also My opinion on corn remains that we are near resistance, but if we push through, then I can see a 40-50 cent rally. With weather beneign and NO DROUGHT in sight, corn seems pretty resilient to me and I'm willing to see what happens. Your warnings are duly noted. I'm really surprised you don't have a position in corn as you certainly have an opinion. Good trades to you |