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Buxton ND | I'll add to Blu's charts,look at the purple line in the 2nd window,that is total OI-open interest in corn. It bottomed just under 1.1 million and topped just over 1.4 million about the the 10th of April after rising pretty much all year,a trend of spec money coming back to the market which a good. We've heard many times money is coming back the last months ! ! ! ! ! You hear me say last fall/early winter corn's not going any where til the fund money comes back,,,,,,,,,, that's why that "Little Purple Line" is so important............ The trouble is OI topped around 1.9 million in 2011 so there's still ALOT of fund money (400-500k) that IS NOT playing corn like it did in 2011.
Now fund money DOES NOT think 1/2 or 3 months they think long term 1 or 2 years,maybe even 3 YES 13-14 carry is much lower @ 1.146bb (short term) (1-2-3 months) NOT LONG TERM
SOOOOO put your self in the shoes of a fund trader,,,do those long term carry numbers (US or World) tell you to BUY CORN ? ? ?
YESSSSSSSSSSSS I KNOW many DO NOT like these numbers (cant say as I do either) but these are what the world wide traders will trade........ | |
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New crop corn chart, please?
