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| Someone here has a signature line that says something like "90% of the stuff you hear will never happen" and it's true. There is and always has been a disconnect from reality and what gets said, reported, tweeted, retweeted, etc. There is no buyer response to peta videos - just outrage and shock on social media. I'm wondering if Rush is correct in their assertion that much of social media is done robotically and not by humans at a keyboard. So, we get all worked up about stuff that isn't real and isn't going to happen all too often. One of the problems is that now we get bombarded with it and it's hard to ignore.
That said, consider why markets don't react to 'breaking stories' very often. These days markets are largely controlled by money not involved in the physical commodity and do not necessarily react to fundamentals of the commodity. Instead they react to internal decisions and fundamentals of other markets.
Now what that means is that we have $3.50 corn when a 90's type market (with big elevators in control) would put us at $2.50 or lower. It means we could get rallies that make no sense and we need to be sellers because the price is right. It also means seasonal charts can be predictive or toilet paper. I guess I liked the stability of the 90's market, but I like high prices once in awhile also. As long as Cargill could find 3 beans in a bin, supply was ample, whereas, wallstreet might run the market up because it's getting out of bonds, treasuries or NK's nuclear industry. | |
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Heads up on "news"
