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| You are exactly right. The action today is just a little misleading because a lot of bull spreads in old crop wheat versus new crop & old crop wheat versus soybeans and corn were liquidated. This put a bit of a floor under the beans & same for corn. Personally, and I am probably wrong more than right, I feel this wheat market is dangerous to be short...and the big key to corn is the ethanol grind...I have no contacts in that industry & if anyone does their input would be helpful in formulating plans for the next 12 - 18 months. In my opinion, if we see a big, big crop report next friday and the market does not break sharply...both beans and corn need buying. I appreciate your comments. | |
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Today
