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03-08-2013 01:23 PM - edited 03-08-2013 01:37 PM
yes, i'll speak up Shaggy. i do remember you saying this....they can temporarily manipulate mkts, but in the end, ---i believe Palouser would agree----the actual economics of a market will be revealed in cash for sure and in futures to a lesser or greater degree, depending on what the spec $$ wants to do.
let's use example of beans. bearish #'s on the surface-----so mkt reacts by selling for 7 minutes, only to give the strong hands an opportunity to buy the reality, if you will. do you remember bean chart i posted yesterday (it did trade a little higher than i had charted--but--) w/ a buy around 1450?
03-08-2013 01:45 PM - edited 03-08-2013 01:48 PM
I know you're not crazy about my charts, gio.....rather, they make you crazy.
----sometimes they make me crazy, too.........and i override them w/ good or sometimes bad decision.
main point today is beans are telling us they don't believe USDA---trading back to unch
03-08-2013 02:05 PM - edited 03-08-2013 02:24 PM
Here are photos of corn harvesting in Argentina. This farmer was harvesting corn, today. The field was finished an hour ago (1:00pm CT) and the yield was 107qq/ha with a humidity of 16%. This is well above what the farmer had expected.
03-08-2013 04:01 PM - edited 03-08-2013 04:02 PM
Looking at the price and the gains today, looks like no one believed the REPORT or thought it was crap. Interesting trade for the next week. I am still going long beans.