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South Central Iowa | I feel the same about the report Timmy. I think we are range bound through early harvest or the grain stocks on 9/29. USDA probably will come out with something along the lines of 168 and 48. Like Boatload said, below the last Wasde, but above crop tour. Chart wise I think the bottoms are in. I could still see $3.36 in Dec corn, but that looks less likely. A retest of $3.44'2 should fail between $3.46 and $3.51, just depending on the day. It has become very apparent the low was in for Soybeans in June. We should at least pull back to $9.52'0 to fill a micro gap on the weekly and under charts from $9.52'0-$9.52'2. Beyond that though, I am still banging my head against a higher low retest in an ascending zone I have had; now from roughly $9.08-$9.28 this week. Starting to wonder if it will let me be fortunate enough to buy in there again; bought on the low day at $9.23'0 and scalped it a couple of days later thinking we would pull back into the zone, not yet. Baring something out of left-field, $9.04'4 and $9.07'0 are safe.
I think we are 162.5-165 and 45 or under. Soybeans are the story. They will understand that by next summer, but hopefully sooner! | |
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Light in the Tunnel
