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Central Missouri | It's always the most bullish at the top! That is true and it got me to thinking. Yes, alot of us on here are bullish but is the market that bullish. We havn't had a major drought to drive prices-up. The Russians (chinese) havn't come in and bought major amounts in the course of a week like they did in the 70's. Soo, are the market internals overly bullish and way blown out of proportion? What we have seen over the last 2 years is slowly but surely growing demand both from exports, domestic crush/biofuels, and reduced acres last year due to corn. This to me isn't a market that is overly bullish. Add in dry in S.A or U.S. and then we may get overly exhuberant. The type of exhuberance that makes blow-off tops. At what price will we curb demand? JMHO | |
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New High in Beans!! ARE we really that close??
