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| Don't let the "known" fundamentals blind you too much. Noone could figure out why beans were rallying last spring either, because the fundamentals were sooo bearish, until they weren't. 400mb carryout down to 250, rinse and repeat for each of the last 3, 4? years? Maybe the market has decided this large carryout is going to have to be proven before they tank this thing down to $9 or below.
Also the old saying 6 months to sell the bottom, 6 minutes to sell the top comes to mind. We have been roughly 10 to 10.50 for about 6 months now....
Edited by Deere6 2/13/2017 20:54
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What are beans doing?
