Posted 7/29/2020 07:59 (#8402490 - in reply to #8402451) Subject: RE: Dec corn
That looks like the next stop, doubt it holds. The weight of the market this time of year needs better support than a contract low.
I would prognosticate a new contract low in the 3.1x somewhere, then a small rally to make sure we are all out of buyers before a final flush. Find a low around Labor Day, then rally back for the next 3 months. Not saying the final flush is going to be to 2.50 or that the rally back will be a buck. Just an orderly downpressure on price, then a dead cat bounce into a price we can swallow a little easier.