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| Beware of the butterfly effect. I hate to by cynical but the same thing happened in 2008, a non-ag related crisis hit(this time its multiple) and although the fundamentals didn't change much, the movement of investment $'s did. We all know the markets can defy fundamentals temporarily, but the duration is never known. Can it be 6 days, 6 weeks, or 6 months? There has been a record long position by non-commercials, and we've heard for a while that if they all head for the door at the same time it could get ugly for a while. It could be a fast recovery because there isn't much corn left in the country that isn't already sold, so hedge pressure is going to be non-existent. | |
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Take a deep breath people
