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Buxton ND | There was positive news to corn from the money flows.
Week ending the 2nd we saw net BUYING in of 26k so the spec money is sitting 26k new long after last week net EVEN
Of this 26k, 6 was short covering buying 19 was net NEW buying by the long side of the spec money.
These are the traders we need NET NEW BUYING..........Price UP .03 in this time frame
This is important because that 19k is the most the long side has added in many week.
This is just ONE WEEK and does not mean we have printed THE low.
Have not seen this posted yet, on Thursday ZCH made a KR lower, a weak KR IMO but none the less the a KR with follow thru on Friday. With some MAJOR action taking place in spread trades between ZCH/K
Spreads in its self is saying corn is move to town in the forward months...... This includes beans also. Maize, I need back-up here ?
Beans dead even 14k new long vs. 14k new short.
ZW dead even.
KE bearish.
MWE slightly bullish and my read is dangle dangle the "carrot"
Actions in all grains bearish later week, I do/did sniff someone is willing to buy corn on Friday but the close said I may have been smelling the HFT boys.
CORN MUST NOT GAP LOWER come Sunday's open, not even 1/4 of a cent lower*****
If you wanna learn here, cross chart a cow to a corn cob and tell me what you see ? ? ? | |
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Positive
