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| When corn felt the pressure it was reflected forecasts of rain in Brazil, ja?
Many months ago I mentioned rain is traded- So, Brazil's forecast told us it was being traded...
Moreover, Brazil's record setting soy harvest, which could potentially drive a fall in our exports... contaminated the market...this was concern I held...
However... a significant adjustment in the RSI (relative strength index) across the agricultural complex has occurred this month-I believe the Fed tapering is feeding into this movement which is causing funds to flow into ag.
Additionally, the aggregate open interest in corn is at an extended level-above the 95th percentile.
For commodities, these are good signs, ja-
Gottlieb
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as we start losing bears
