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| only if your long. Grain markets are in a trading range and have been for a year and a half, we are in the mid low of the range for corn 3.18 to 4.50 mid line 3.83, that is with a monster crop and an American dollar that is 15 percent stronger than a year ago, 15 percent of 4 dollar is .60 bus, dollar is the key, looks like a double top to me. And you know I feel about charts , except in currencies is their any fundamentals or just manipulation.
wheat, what, 4.50 to a flooded out delayed harvest run the funds out 6.20 for an average of 5.35 15 percent of 5 is, .75 a bushel
soybeans 8.44to 10,86 average 9.65 15percent of 9 dollars is 1.35
Watch the dollar!
I see ethanol production up 4 percent by the end of the year over 200 million bushels more than last year
grain demand underestimated always, because of value added on farm business, not estimating grain consumption high enough in the gov numbers for residual use!
risk rewaed
bears are right corn goes to 3.00 ... ..............60 cent profit
bulls are right 5.00 ...................1.40 profit
time to get on the other side of the bus. | |
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There's an old wall street saying that “everyone's a genius during a bull market”.
