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Vulnerable, Promising, and a Sure Bet
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LongKC
Posted 5/7/2014 21:56 (#3858321)
Subject: Vulnerable, Promising, and a Sure Bet


Middle Tennessee

A quick inventory reveals the post below has almost no numbers and no facts, but it's not out of disrespect for you guys!  I could go on and on about how much I've learned very recently from you fellows, i.e. technical analysis, basis, the livestock markets, how farmers manage disastrous weather, and other stuff.  I'm sure it's clear how much look forward to everyone's posts.  Maize, if you're out there note ps.

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Grains and oilseed trade was so boring today I can’t even remember whether or not it settled in the red. The Excel jockeys are probably hard at work, making wild guesses about supply impacts from the Spring Furnace in the Panhandle, more wild guesses of planted corn and soybean acres, and perhaps even wilder guesses yet of how much corn and soy China will need 15-months down the line. They’ve got 36 hours to get it all figured out before the monthly report release Friday.

Going in to the report, it looks like the market is satisfied to leave the technical structure in the bean, corn and wheat markets respectively as: vulnerable, promising, and a sure bet. That logically suggests that after the big report, soybeans will set new highs (I think she’s still in range of the new dollar limit up); corn will trade a 1.5 cent range for Friday’s trade; and wheat will test February lows within a week.

**Maize, if you’re out there, I am embarrassed to say only tonight did a take a moment to glance at your operation’s site, nice colors!  I was going to send you an apologetic email, but I can’t unless you pledge to never, ever, reveal my identity.

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