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NW Indiana | Keep in mind the daily only reports over 100k mt. The cot shows there is some buyers showing up on the commercial side. Funds likely will only press things so far on this go around so short covering will happen at some point. If China does buy they often hide it well with the board and we don’t see it actually show up on export sales for weeks if not months. Cash corn for fall locally is 4.40, that is levels that will start inflicting pain on farmers going forward with the cost of literally everything else considerably higher than it was just 3 years ago. Go back and look at the 2013 decline and you will see even after a brutal dip into late September it followed a nice rally into the spring of 2014. Not sure if we go lower or how much, I suppose I could call a bottom every week like some others and eventually get it right with my charts. | |
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Prices job
