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| Weekly exports supportive for wheat, corn & beans. Some talk of perhaps 2MMT of frost damage in Argentina...some talk China may require some corn down the road.
Talking speculation now, not hedging....these markets, in view we are entering a normally reactionary period...can be tempting to sell...I cannot do this at this juncture. Too many variables yet. After nearly 50 yrs bouncing around in these markets...in my personal case, I enjoy most success when I try to be alert to technical abberations but also not get too fancy in picking a top. In my case, I cannot be short in a market of which I am bullish, it has always proven to be a big mistake..screws up my thinking. A prudent trader should lighten the load at these levels and look to again buy on hard breaks....except, I am not removing any of my soybean chips from the table...to me, this thing smells higher...we have not yet, in my opinion, bought enough soybean acres. Too many little things now appearing on the corn & wheat side..I am willing to ride this soybean horse even though I might get thrown off...however, since I do expect to spend a few of my final years in a car wash, & in view my long time spouse believes sometimes (pretty much all the time) I should seek professional counseling...I am yet a stayer, including my small position in march wheat. | |
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Some thoughts
