Posted 2/11/2019 10:59 (#7313301) Subject: Here's a trend line for ya...
Since it's hard to see in the resolution the picture loaded at, if price were on that line right now, price would be ~$2.30.
Edited to add:
For what it's worth guys, this is not based upon anything other than me randomly drawing lines this morning. In the past I have publicly been a student of JP, Andrews, action reaction, etc. None of what I posted today is likely to have much validity with JP and is not likely to jive with Andrews stuff or action/reaction or market geometry or whatever.
If it does happen to correspond with any of that, it's total luck.
Please do not bet the farm on what I said. I have not talked with JP about this or run it by anyone other than posting it here. Just noticed some odd coincidences and they seem to fit well with my bias that I've posted about on NAT regularly. That bias (which I referred to elsewhere in this thread to jonas grumby) is that the corn market has not extracted nearly enough pain out of corn producers yet to make them try to curb production.
Anyway, DON'T BET THE FARM ON THIS. This is just the musings of some random pessimistic farmer.
This edited part was originally a reply to the original post but I added it here as well.