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corn break
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frytownfarmer
Posted 11/14/2012 08:07 (#2696363 - in reply to #2695646)
Subject: RE: corn break



Frytown, Iowa

blu... thoughts are similar...

 Wheat is going to sell off as the 50 day moves into the 100 day... wheat should move lower to the $7.25 area... i dont expect the 50 day to cross the 200 day on Wheat...

corn should follow as it also has broken support lines and is in a down trend... i would expect corn to settle down to $6.50... I also am not expecting the 50 day to move lower than the 200 day. keeping both wheat and corn in a bull run...

we need to head lower to find support in order to bounce back into the bull my opinion only...


the us dollar index has its 50 day cross its 200 day MA sending it into full bear mode... it is also in the making of its right shoulder and once that is completed should be very bullish for silver/gold and eventually grains... this is why i believe the grains will not have their 50 day cross their 200 day MA...

if soybeans head another 50 cents lower to the 1350 area then i would believe that a head and shoulders pattern would be what soybeans are following... we would then see soybeans trade inbetween 1350 and 1450 through the beginning of next year before heading lower to 1350 to find support and head higher...

my opinion only... i believe we will see good inflation next year and it will affect all commodies though some tend to respond quicker than others.... we have multiple pressures on grains...

the drought (which believe it or not is now bearish as drought highs are always first) deflationary global pressures, and fed induced inflation... how they all fit together is the key... if you would have taken out the drought how much different would the grain charts look? would we be close to bouncing off of support of 5-10 year support lines creating the next major bull when inflation hits? 

anyones guess is as good as mine.

i do appreciate your charts though i dont comment all the time blu keep up your work as they help everyone... 





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