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Middle Tennessee | Hey! We are crossing Canada and I just saw you asked why it occurred to me to short corn from in555's Friday thread. First, it was kind of a regrettable mindless post. Second, my casual reaction to the maps is that there is concern in the Dakotas and Nebraska. Third, replant conditions and acreage still leave real questions. Fourth, as always I am short beans and long wheat. And of course summer sometimes seems the longest season of the four.
So why consider shorting corn? Not because there is tons of downside. But there is still uncertainty regarding the technical implications of Thursday's close, which would permit a super-tight stop. I do not trust the bean correction as far as I could throw it. And it appeared that the market was reacting to a hot spell in what icall the Corn Crescent (arcing from Minnesota to eastern Iowa and central Illinois) that was forecast to last all of 2 days. Those were the things going through my head. | |
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Bkadds
