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jrw322
Posts: 25
Registered: ‎05-14-2010
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Dec. '11 Corn : Which will come first? $ Eight or $ Seven??

Now that the widely-touted overhead resistance at $7.50 in this overbought corn market has been blown clean through, my question is which will now come first; $7 or $8 Dec. corn? And in what time frame?

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rightone
Posts: 217
Registered: ‎05-13-2010
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Re: Dec. '11 Corn : Which will come first? $ Eight or $ Seven?? maybe neither

you mention "over bought."  Harvest ticking now, exports suck and NEW limit rules for paper corn.

3rd shoe is if crude now drops another $10 to $15.

This deal ripe for say $1 per bu sharp down on paper corn, should start next week.

 

Cost affective cattle for every environment here.
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roarintiger1
Posts: 1,588
Registered: ‎04-29-2011
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Re: Dec. '11 Corn : Which will come first? $ Eight or $ Seven??

Wait a minute......corn is overbought?

"Failing to prepare is preparing to fail." "Success happens when preparation meets opportunity"
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teaspoon73
Posts: 210
Registered: ‎05-17-2010
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Re: Dec. '11 Corn : Which will come first? $ Eight or $ Seven??

   Eight by next  week.

 

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DW11
Posts: 141
Registered: ‎05-13-2010
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Re: Dec. '11 Corn : Which will come first? $ Eight or $ Seven?? maybe neither

Rightone,

 

You are eventually going to be right.  What goes up will come down.  But wow you have been blind to the crop size issues and you still don't acknowledge them.  Still looking for 160+ on the corn?  Tell me again where those Really Good areas are?

 

Now you are predicting market moves?  Forgive me, but I'm skeptical.

 

 

Frequent Contributor
gbryce
Posts: 64
Registered: ‎05-17-2010
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How about neither for a while?

Just a thought , if we continue in this 7.50 range ( 7.35 - 7.65) or somewhere there, are we killing demand. I know this is a relative question so broken down. In ethanol, what is Gasoline breakeven price @ 7.50.  What about cattle price? 


jrw322 wrote:

Now that the widely-touted overhead resistance at $7.50 in this overbought corn market has been blown clean through, my question is which will now come first; $7 or $8 Dec. corn? And in what time frame?


 

The Best of Luck !
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sandcreektom
Posts: 6
Registered: ‎08-29-2011
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Re: Dec. '11 Corn : Which will come first? $ Eight or $ Seven??

I just don't see how livestock producers can buy corn for long if the price stays much over $6.

 

If you look at the average price they have pd over the past 5 yrs or so $5 is high.