Posted 5/15/2019 15:05 (#7498706) Subject: If this is an event
Ok first off by no means am I predicting anything like 2012 prices or a 3 dollar move. Rather I looked at the 2012 chart to see how price reacted to the event. Notice how it was 2 hard up days followed by 3 days of sideways, another push up followed by a couple days sideways. Even a gap higher followed by a big down day etc. If this thing does play out there will be red days, imo timing will be more important than price. If the weather pattern continues 3 weeks from now every short will be out of the market that is going to get pushed out. Anyone wanting to get long will be, as it becomes main stream media the timing is about over. These down days and sideways would be profit taking and farmer selling. Some guys that bought Monday could very well have taken profits today. Another round of new believers comes in, so on and so forth. By late May/early june we will know if this is 4 million or 12 million acres of PP, price will likely have exhausted its potential. The market structure leaning so hard down has created this potential move(the funds so short). If you want to know where price is going, tell us what the weather is going to do. Anyone that says they can predict this stuff is full of crap.