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SW Iowa | Snippett of the back and forth between Delaney Howell and Sue Martin:
"Howell: My question has to be, Sue, sorry to interrupt. But with all those bullish factors how high can the December new crop corn contract go here?
Martin: Well, first off December corn of 2019, the high that contract had last year was $4.23 and three-quarters. Now, we're fairly close to that. We've already taken December 2019's low out that it made in 2018. So if we take $4.23 and three-quarters out, you now are opening up the door for a key reversal year. And then the next one is taking out $4.29 and a half, which was last year's December contract high on May 24th. And so I believe that we have a market that is going to see higher highs in June and I think if we take out this $4.23 and three-quarters then I'm looking for a move over $5. I think that we've got to keep one thing in mind, and I've talked about it before on the show, we've got these huge gaps resting above the market. I think one of our more bullish markets will be the July contract of 2020. And we've got a gap on a lead contract that goes from $4.59 and a half, or $5.49 and a half, up to $7.09. That's a huge gap, the largest I've ever seen, and I've been in this business a little while. So I think that we've got potential here, it's a short crop and short crops sometimes have a long tail."
http://www.iptv.org/mtom/story/33965/market-market-may-24-2019
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$7.00 Sue is on M to M
