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Ok chart guys.
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Posted 2/7/2019 16:14 (#7304166 - in reply to #7304128)
Subject: RE: Ok chart guys.

Good question and I won't give you a straightforward answer because I don't know.

I am bearish beans, bullish corn so to me the question is what will the corn/bean ratio handle? It's down to 2.38 for new crop. That's a plant corn value, even with nitrogen prices being up. I'm going to decide by Monday on my flex acres what I'm going to do. Seed order time....

Wedge for corn has to break out here. It has to. It's out of room. Wedges usually break out to the flat side, which is higher.

Soybeans have a really bearish story and tomorrow could be a heat check on that.

Gonna be an interesting day..... positions going in: short bean futures, March bean puts @ $9, March corn calls @ 3.80, March corn puts @ 3.70. All bought cheap. I could have a pretty good cleanup on volatility tomorrow....
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