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Buxton ND | Who are you calling managed money Pro ? Indexers ? Hedge funds ?
Seems everyone has a different term for different traders and it makes it a cluster mess. Hedge funds is a term you don't see used much lately.
Currently we have 466k of longs in corn (they must be JD traders huh Ha Ha) ((OK if I'm not a farmer how would I know that))((( then the non-farmers are thinking what the heck)))((((this is just something that ring a bell with us older JD guys)))) EVERYONE ONE,every last one of these positions are under water and on some major major margin calls. Some of these have on for a year or 2,maybe 3, YES some of these traders have UN-Godly deep pockets or that $5 margin up front from pension plans putting money into index funds, but at some point someone is gonna say "Uncle" and have too sell at a loss or MAJOR LOSS trading corn.
We have ZCZ @ 3.314 a limit move down makes 2.964 and that's ball parkish "close enough" to the 2008 lows. My target is and has been 2.892 ZCZ14 if this baby takes the next step lower. Sunday nite's opening will most likely set the trend to close out the month.,more so beanies. | |
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Managed money in corn & yields
