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SW MN and Gold Canyon AZ | The market knows its wet and the forecast is wet ,yet no new highs?? I remember in 93 there were floods and water everywhere ,yet the trade said rain makes grain. It wasn't until august of that year that the trade FINALLY realized the corn wasn't there.
I hope your right Don ,but buying puts HERE can't hurt. How much futher do we go??If I'm wrong I can still sell cash and I bet those puts will turn a profit sometime before DEC. I think we are within 20% of the top.That would be a high of $7.50.
We gotta see a couple day closes above these latest highs before I turn bullish again.
I'm still long old crop on minimum price contracts and will hold until I see a close below $6 on dec.
I will be 100% covered with a floor on new crop with a couple more contracts.
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Triple top and RSI divergence DEC corn
