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NE SD | I was a raging bull until yesterdays action. I believed it would lock limit in corn and wheat. Its like if this doesn't move these markets up what will? This action tells me that until there is major weather event or confirmed losses in the wheat from frost there will not be much of rally. In corn I am sure the frost did it no good but really its only 3% planted anyway and whats frost damaged out of that is obiously not much at least the traders do not think so. I agree these markets are not acting like we would think at all. These traders no doubt believe that the corn will get planted, may be late but will get planted. I was a bull now am turning bear way a little. If we get so much of a hint of a good warm dry forcast any time in april I would think corn will drop like a rock. I actually now believe the market has a premium built in for a planting delay.
I am usually wrong so take this for what its worth.
Edited by deereman 4/10/2007 15:21
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Freeze Dried Markets ?
