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NW Indiana | The low on Jan 12th and Wednesdays high were within 10 cents on the May contract, I wouldn't consider that much of a gain on a short position in 3.5 months. I have no way of predicting their exit without being able to predict the weather. My point to all this unless the forecast changes and planting pace picks up from what it is looking like I think the majority will start pricing in a yield in the 177 range to start instead of the 182ish that has been discussed for months. I think it would take until late may before thoughts of a yield lower then that would be justified. Also I think following the March intentions most felt corn acres would increase, that might not happen if we get late enough. | |
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At what point does managed money get nervous?
