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NWMO | I think that March corn will have a hard time overcoming the $5.08 level it reached last May. I think the funds will want to get into the $5 range and begin exiting their long position to get back to neutral so they can build a position based on info coming out in February/March
Historically, February is not a hot month price wise compared to January
If USDA prints ~93M acres of corn at 183 bu/ac yield, the funds will short the market. If that number holds going into the June 30 report, they’ll pile on even more shorts and ride the roller coaster down
I think a guy shouldn’t weld his bin doors shut ever, cash flow often trumps upward speculation, if $4.93 is a profitable price then sales, however small, need to start being made.
We’ve seen the market not only be willing, but very able to drop quickly and painfully and stay there for months
We’ve rallied $0.80/bushel since September on March corn, that’s significant, don’t miss landing on the moon because you’re busy staring at the stars. Especially when many, many of us didn’t think we’d even get to this point a few months ago
I’ve officially sold the last of my old crop corn on deferred contracts. If it rallies to $6/bushel, I missed out and I’ll try and capture that demand on the new crop 25, but I make money at this level and I’m not going to get greedy | |
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Inconvenient possibilities
