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| August happened, but we've had weather situations that the trade completely ignored. Very little of the 'heavy hitters' corn has been harvested so I wouldn't think there would be enough news to really get them going. The surveys and reports all showed reasonable yields and they haven't been way off in the past (always a first time). However, apparently it is enough news for the trade or it is what they wanted to hear.
For me I felt like we just didn't have the fundimentals to support this price, but that didn't matter. Now with some supportive fundimentals (for now) the market is moving upward. Sales strategy's seem to be out the window - if the price is here, I better be selling because I have know way of knowing whether it's going to be $2.50 or $5.50 during my crop marketing. I'm 10% sold for $3.99 for 2011 and I wonder if that number should be 20% - if it goes to $5 I might be 50% sold for 2011 and have yet to combine the 2010 crop. I'm not sure I can be a bull or a bear - the market can shift so quickly for almost no reason. So, my 'new and improved' strategy is if it's above break even and historically pretty high I should be a seller - regardless of timing, season, moon phase, macd, rsi, tea leaves, etc.
Thanks,
Pat | |
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wheres the bears
