HI Clay,..

I never meant anything negative Clay, toward you or anybody else.  I could give you lines for the 2012 rally, but there really is no point of rehashing old territory.  Major Bull moves have a birth cycle.  It takes time and energy to get there.  We aren't even to conception yet.  My point is people we will want to believe the low prices are over,  don't blame them a bit,  wish they would be myself.  But that is not where we are in the life cycle of this formation.  I mentioned a few years ago when corn was high, the lows would be the next decade and got ridiculed for it.  CFDR has recently backed me up. It's nice to have some company.  The market does not make mistakes, it already knows.

For $7(futures) corn to happen this year, IMHO, we have to go sub 3.18 period - creating our major pivot.  IMHO, it cannot and will not happen any other way.  The only energy available to the market right now can get us to around 5.50ish.  No more than that.  To get to $7, we need to get be able to tap the energy from the last three years, and we can't do that until we have a major low, which in my opinion, we do not have today.  And personally, I think a move to $7 would not be a one year deal, but likely two years.

It's really pretty textbook, every time corn (and almost every other market) has made a major low, it attempts a pendulum pullback.  This is built into the market, we already know that a rally is coming, don't care what the news is, drought, PP, dollar getting crushed - don't need a reason, it's already in the  works.  A very high percentage of these attempts fail,..and the closer it gets to reaching its destination, for more time is projected forward for lower prices and the eventual Bigger pivot - from here, the next big bull will be born. Then once we find that pivot, we generally don't run back higher to the old highs, but a process of years takes place of rally, and a multiyear pullback before we go launch the big bull rally.

Take Care