Posted 2/22/2021 10:52 (#8850819 - in reply to #8850078) Subject: RE: Corn
My technical analysis had $571.00 as the overshoot level. The market never got there. We are now in a typically bullish timeframe in terms of the calendar. My instincts are crude oil has quite a bit of legs from here and the chase in the commodity complex lifts most boats. The economy is "starting to open" and demand in the oil complex is better than expected by the pundits. It also appears with the Green Initiatives the new administration is aiming for we will see approximately 3 million barrels a day of crude taken off of the market. The EV movement has traction, but we are years away from fossil fuels going anywhere. The United States has to have a major infrastructure upgrade to be able to charge the vehicles. The initiative can easily become law however, where are we gong to find the workers? It becomes more difficult to find responsible labor as each day passes.