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Red River Valley | The phrase "catching a falling knife" comes to mind at this point.
Lets recap here what we think we know
Harvest has started in the delta and yields sound very good 50-70 bpa
China buyers are getting letters of credit pulled from them
CIF basis is falling out of bed down a whopping $1.65 today
the Longs tried to squeeze the Sept and it rolled them over right in the middle of everybody and their dog being bullish -- Sunday night
and you want to go long into that - me since I took the opposite approach Sunday night think I will wait watch you and see how it works out.
EDIT : P.S. to c-xr-1 if you are going long might want to make a pot of coffee and stay up all night watch that meal for a tell
Edited by Tara Farms 8/26/2014 20:56
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Trade rec for Sat :)
