Posted 7/28/2020 19:29 (#8401657 - in reply to #8401586) Subject: RE: Things still looked good in August
So you are willing to say that this summer is similar to 2010? With near record rainfall, much warmer July temperatures, what looks like extremely warmer Aug temperatures not to mention a very dry trend into harvest in 2010 all of which hurt corn yields and are missing this year, you are still ready to say this is an analog weather year to 2010. Not to mention this continual "hope" that the 2019 S&D will need a change, despite evidence to the contrary-grain stocks that actually show the opposite. You keep posting the 2010 chart. What do you think people infer from your posts. You are not providing good advice, you peddling unfounded optimism cloaked in loosely fitted data. So no it's not a pity party, its realism.
As to being rangebound, where do you expect us to go? At $3.30 futures we are approaching value levels and the market has shown reluctance to fall below $3. This doesn't make strength inevitable though. The market has shown the ability in most year to drift lower and stay there. Basis strength says that there is more buyers at the futures price than sellers. Little other then that can be drawn:see JonSCKS post on guys holding bushels because they want to sell at a higher price.