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cropsey, il 61731 | Be careful of "the grind". It appears to giving back all it gains. I suppose it's a range and we might as well be thankful that it's not just tanking. Lots and lots of corn in the world and apparently any shortfall (real or perceived) in the US is starting to be taken care of (basis widening here in ECIL). Upcoming events are what happens in Argentina and whether or not the Brazilian weather really damages the crop. I realize that's mainly beans but grains tend to ride along with each other on big moves. Like a few here I got out at $3.60 locally earlier in the fall rather than pay storage. I have a call spread going for May but I'm pretty sure I just made a trader's bmw payment. So I'm bullish or just hopeful or just stupid.
So, it doesn't look like grains have any reason to move higher and a few reasons to move lower. We don't know the future. Traders like to trade to keep commission $ flowing (hence our range). I wonder if it's possible for the market to make a significant move solely based on technical features (not just a few cents, but 50 cents)? | |
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RE: the grind continues
