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Buxton ND | Tara's comment
"The biggest difference between now and 2012 is the mindset the long only funds have"
Actually their mind set changed in early 2011 not 2012, I know it sounds weird but only roughly a buck of the 2012 drought rally was driven but net NEW buying. EVERY rally since has been driven by short covering. Last summers rally,,, roughly 83% of that move was SHORT COVERING in corn.
The funds do not give a rats donkey's dam about "commodities in general" anymore. They came, drove things to UN-believable highs and they left, I do not know any other simple way to explain it. MPL wheat, cotton and feeders are 3 major stand outs for me.
Crude was the last hold out til the summer of 2014 to join in on the crash and burn mood.
Crude started this whole rally and crude looks to have finished/ing it. | |
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Cap't Kirk.. Drought more widespread than 2012 on the way..
