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Central Missouri | I don’t think so because price takes into account all that is known at the time. Price is correct until it isn’t and when it isn’t it can have big moves in short time. I have no idea what drove 1960 price but in 59 and 60 price went sideways for a long time. Price was right until it wasn’t. Look at price 2019/20 going sideways for a long time. Price has been correct until possibly it’s not and only time will tell on that. With all of the information flow we have today China has been able to buy a very large amount of beans in 10 months and still keep price sideways. They bought every thing South America could sell them and a large amount from us and they probably aren’t done with us. In addition they have purchased between 40-50% of what they need out of south americas new crop. All the while price stayed sideways.
Price can be right until it isn’t and we may be at that point I don’t know but over the last 3 weeks price has broken to or out of sideways. With all the information flow. Markets just work like they do because human emotion is involved which hasn’t changed throughout history.
It’s no different in our lives when things go comfortably good and it just clips along like that until all of a sudden something builds up and disruption occurs. 1959/60 beans comfortable and then not.
2019/20 beans comfortable and then?
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