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South Central Iowa | That area in corn is very interesting to me as well. I think we see a second bottom form in corn this week with a confirmation of the March at $3.25. That might be overly aggressive on the low end, but if not that low, $3.33 also interests me. But specific points aside, I have started accumulating long July's on Thursday at $3.57'5, roughly the $3.42 area on March. I will accumulate many more if we go lower this week. My thinking is that we have a firewall below that is 8 years old and from a bygone era that we will never return to because the fundamentals are too different. But this can be an arrogant assertion. Do you see anything, looking at this area chart wise Blu, that would make you believe that we could break that $3.14'6 and go down to $3.02 or below $2.90?
Not withstanding some Macroeconomic fundamental reason, I can't see any fundamental reason we will ever break. The largest carryout since 1988 would have been a good fundamental reason, but we obviously failed to break on that. So I would think only a technical reason would create a breakdown lower; do you see anything or what are your thoughts on it?
Edited by Conan the Farmer 12/4/2016 16:32
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