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| my gut says you are wrong on the corn. Today was a mild and healthy shakeout. When we were limit up after the report, we were limit up again on day two's open. After being limit down today, several months are up a dime in electronic. I truly believe that we will re-visit and take out the previous highs. I appreciate everything that you have written and mean no offense by writing this. I'm just curious why you are suddenly bearish on corn. The stock market came back today, there is talk of yet another strong interest rate cut, and it does not seem like pure panic in the commodities. If there was, we would be seeing a strong move down again tonight. Perhaps most of today's selling was farmer driven (basis levels improved a great deal). The funds might be holding for the reminder of the ride. I know that the technicals don't even support these levels in corn, but none of this seems to be entirely driven by technicals. It is pure greed and speculatioin and I don't think it's over. JMHO | |
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No Offense Senior, but...
