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Goff Kansas | i am not sure about the technicals,, but was reading a commentary by someone at Midwest Marketing soulutions..... he was saying alot of enduser buying at these levels, because this may be the cheapest corn we see for several years.......... I don't know about that.. pretty bold statement if you ask me, and surely one will not forget when i collect my next ldp for the crop of 08... now that is a pretty bold statement also... always seems to go down alot quicker than up.
what i really think, is that the acres battle is only about 25% over, with wheat playing its hand, and beans realizing that pipeline supplies are only 50 mil bushel below.. corn just seems along for the ride, but regardless is going "along" for that ride... will have a hard time keeping that 86-87 mil acres to keep its own pipeline full for next yr.. think the upside of corn will be limited though. have a tough time seeing it break contract dec 08 highs around 4.30.... but with this dollar all crazy,, who the heck knows.. | |
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I thnik dec. corn is weaker...
