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| A 3>90 CZ we are 14 cents lower than we closed last Friday. With a moderating forecast and a "No Help" report I don't think that things are as dire as some are lamenting.
If we take a further step back, we are sitting basically right in the middle of a historically tight band (for a December futures contract) that we have been in for almost 12 months. You can sell the same price you have been able to sell each month for the last 12, at least futures wise. My point being, I don't think this market has decided to break out to the downside, at least it sure does not technically. Close back over the 100 and 200 day MA's today maybe? Funds back short again it looks like?
Let's see crop conditions on Monday and try and not jump off a bin just yet. | |
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A Little Perspective
