| Pitt - 10/30/2014 20:04
Agree on the $3.93 price to make heavier sales.
Similar to the run up of the early 70's, Corn (all grains) spent a few years at record high levels. After hitting a high of $3.99,(1974) corn started a steady decline down to $1.50, (1975) what was once considered a good price only a few years earlier.
Then it started heading back up (V bottom) and the low was not seen again until 1987.
So it is possible that the lows are in, What prices have done in the past 7 years is a carbon copy of the 70's
That is why I had $3.00 as a strong support area several years back.
I was actually using the 1987 June to Nov price cycle to compare the 50% too. Not looking past that point. It was at that point the market turned on it's nose, hence my post on June 21 about being time to sell corn. |
Tell me what you see on this chart...
