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Red River Valley | I felt that when I got into it one could reasonably look for 25 - 30 cents up move so far it has not happened so I will put in a buy stop above my entrance point ( not much above though ) and see what happens.
From everything I can gather everybody in the market is looking for smaller numbers from the USDA tomorrow ( Me included ) so to me that is problematic most are in the 165 and under camp Im not sure that we see that tomorrow but my biggest fear is that the markets see's a 165 number and looks around the room for what's next, and the what's next is harvest pressure in their minds I believe.
so my thinking is that If they get a smaller number they could still sell off in anticipation of harvest pressure, if they get a larger number they might fall hard ( low to very low ) probability, and they could get a much smaller number ( low probability) so with that in mind I move to a safety mode but still leave some upside open.
Just as last year the market I think will need the Farmers to prove they can put this crop in the bin.
Here's to hoping we can . | |
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Looking to get out of the DNS that I bought last Thrusday night
