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Buxton ND | Your right buck, if we want a meaning full low in corn,trade side ways to lower,"re-testing" contract low of 4.46,better yet 4.15-4.25....................
One thing trouble-some is we made a black cross on weekly corn (along with that HUGE GAP),last week,very bearish sign if that was one a daily.....Now I very very green on follow this on a weekly and trying to find out more about this as I type.
Then looking at the radar,traders have one eye on the market and another on the radar.....
As what happened in 1988 it DOES NOT take a 2" rain with 75% coverage to break a drought market. I'm sure there's many that remember early July 1988 that famous Monday,Tuesday Wednesday locked the .12 limit down. And worse before my time in the 70's....................
70% dough with 23% dented so we do have to look at the calender guys..............................
The trade knows its hard to kill a corn crop in late,late August...................................................
Beans are totally different but IMO gonna to be very hard to drop yield below 140-145
BTW 1988 wild ride drought market ended with some little showers that popped up UN-unexpectedly 200ish miles south of Chicago on Saturday morning, YESSSS its different then 1988 but 2012 turned out to be a crystal clear copy carbon copy of 1988's SCLTail year EVEN WITH ETHANOL....................................................................................
Again history repeated its self guys and gals.......................................... | |
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Same question, two days later. Does this rally have enough ....
