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Mascoutah, Illinois | EVERYBODY KNOWS IT IS A MONSTER in Minnesota and Nebraska. It is no suprise to anyone and the news is old, especially to the traders who knew it a month ago. What folks need to ask themselves is, "why is the market still going higher with a crop potentially this big? Folks, put on your thinking caps. This corn crop isn't being traded off of this year's yield. Not right now! If it was corn would be trading at $2.80, instead we sit around $4.05 in new crop. You have to think outside of the box based upon the price action. A potential record crop coming according to the posts I read and the corn market has rallied fifteen percent in July when seasonally, it should be going lower.
Not one post on here about SOYBEANS OR THEIR POTENTIAL which is the new market leader. Corn is the laggard at this juncture even behind wheat. Everyone is too caught up in corn and yield and they forget about the bean market. Does anyone read S.C.'s posts? The man is giving you the playbook, just follow it. Throw the corn market out the window and follow the price action in beans. They are telling YOU WHERE THE MARKET IS HEADED.
IF BEANS ARE GOING HIGHER, CORN HAS TO FOLLOW NO MATTER IF WE GROW 160, 170, OR 180. The price ratio between new crop corn and beans is around 2.42. The past few years, the ratio has been closer to 2.60.
Beans opened up down 12 cents in overnight trading and now they are flirting with unchanged.
Edited by djmcountryboy 7/19/2010 02:14
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Give your corn condition
