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central ontario | That stubborn guy has stuck to his guns here about being bearish ,maybe a little early but non the less a correct stance to have taken.Exact timing is difficult for the exact entry on a sale or a buy.
He was pounding the bearish beat pretty good in early Jan after the run up about how good crops were in Brazil and the rest of the bullish posts being made were already baked into the cake and it would not rise anymore,there was nothing more to support the bullish stance that was taken by many on a seasonal rally that must start in the new year or Feb at the latest.This is discounting the news,a post that was put up a while back.
The early positioning of the large specs guaranteed that we would maybe top early and when selling started it just fed upon it's self to take us to where we are today.This top is earlier then norm but not unusual .Over a 35 year period we have had some of the grains top out 4 times in Jan but never in Feb.
No one is calling this the permanent 2017 top but a top non the less,we need some game changer to kick in to derail the selling,this may happen under it's own weight eventually as it has many times before,as maizeing say's wash rinse and repeat,but let here rip if prices are near your target.
We could still get oversold here and have some good news on the 31 of March hard to say,kind of doubt it .or still have more selling from the funds because we are going to have great yields,too early for that though.
Good Luck Everyone | |
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Sat is a bean seller last Sunday night
