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| I agree that ultimately fundamentals will rule, but it has to be 'ultimate' as in we are running out or on the other side, demand goes away in the face of big yields (embargo type thing). Otherwise the market goes where ever the money wants it to. There very well be investor types musing in their fancy teak paneled offices smoking cuban cigars suggesting corn under $4 is a good buy. They may even suggest $4 is the cost of production so they predict price will return to that price (of course their money will make that happen with possibly some help from slow sales). On the other hand, they could be interested in getting it to $2 or below just because. | |
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Fundamentals vs technical
