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Buxton ND | This is pretty much the bottom line here guys.
"when last year we had huge areas there not even planted ? The market didn't care then, why will it care now ?"
One year ago Friday ZCZ13 closed @5.56 pretty close to the triple top of $5.70,,,there was some little ups and downs but on December 2nd traded to the contract low of $4.10 No matter how many acres did not get planting or muded in,,,,,the big fund boys simply DID NOT CARE............
SO FAR this year,this does not feel any different then last year as far as those fund boys go. Next weeks report could have some new "news" for them to trade off of,maybe enough "news" to put that sparkle back in their eyes on corn and forget about beans. I mentioned last year corns not going anywhere til we change the fund boys minds about selling the manure out of it. I'm leaning toward a bullish re-action from the funds come report day :o) No real reason behind this,,,,,,,,,,more just a hunch.
As PRtrader pointed out below,we are on or near some very very long long term trend line supports,,,,,should those be broken it well more then likely get dam ugly as the fund boys jump on the bearish band wagon. | |
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North Half of Iowa conditions
