Posted 8/22/2017 14:12 (#6203320 - in reply to #6203290) Subject: Wisdom of Crowds!
South Central Iowa
If everyone puts his guess out, maybe we can get a close number. The theory behind the gumball video below is called "The Wisdom of Crowds". It is a play off McKay's famous book The Madness of Crowds. McKay used market manias as support for the idea of the herd mentality and ability to manipulate groups of people. Wisdom argued that people collectively have greater intelligence than any individual part. Both are very relevant and maybe we can use them to test the theory and idea.
So don't criticize anyone's guess. Just state your own and we can average it! And be realistic and say what you really think, don't copy other numbers just to sound within a range and don't throw out some smart aleck number.
Posted 8/22/2017 14:30 (#6203349 - in reply to #6203290) Subject: RE: I love the guessing game.
Western Illinois
C- $3.95. *Edit to be Futures not cash corn.
B -$10.00
100% guess.
Hope I'm wrong on the corn and right on the beans. Plan to sell all corn off the combine that I don't have my own storage for and purchase July near the money calls. Usually close to or less than what it will cost to store commercially until then. I won't own a bean if they hit $10. Will consider call option at time of cash sale if price reasonable.
Posted 8/22/2017 14:34 (#6203357 - in reply to #6203290) Subject: RE: I love the guessing game.
Midwest
OK Dec corn had a low last August then rebounded back. The same contract went back to that seasonal August low today. Now that the technical spec traders (known as the funds) are happy all the technical prophesies have been fulfilled we can get back to business and have the fall rally. Now for the question of Dec prices. Cash Corn will be in the $3.45 range.
Posted 8/22/2017 16:18 (#6203521 - in reply to #6203290) Subject: RE: I love the guessing game.
Northwest Il.
Corn 4.17 Beans 11.00+. I've got a bad feeling on the later beans. Second month in a row here in northwest Illinois with extreme low temps at night(50s overnight for 3-7 days at a time). I'm not wishing frost on anyone but if this happens again in September I don't think those lows will be up in the 50's. This crop is far from in the bin. I hope I'm wrong.