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Senior Contributor
425Cat
Posts: 1,504
Registered: ‎05-14-2010
0

bull flag in corn??? and this time of year

Looks like a bull flag formation in corn. Should make a run to at least 4.50 . Interesting to gauge sentiment this time of year. Winter, cold, markets will never go up etc always happens before the spring rally probably won't get as much this year though.
To you western wheat guys is dryness a market maker or is it too early to tell.
Frequent Contributor
tim7781
Posts: 36
Registered: ‎02-08-2011
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Re: bull flag in corn??? and this time of year

what trading month do you see heading for $4.50ish?

Advisor
Red Steele
Posts: 4,301
Registered: ‎05-13-2010
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Re: bull flag in corn??? and this time of year

Might be just a steer this year....I think the trend is down on all commodities. Some of it is due to the tightening of the screws on spending in Washington , and the dollar is not viewed as much as potential toilet paper right now. THis makes the inflation premium dissipate on commodities.

 

I would guess that we will see a wave of bankruptcies by this time next year as a lot of the new high flyers have to relearn the basic rules of business, and some of the established guys will relearn them.

 

I imagine we have seen the highs for old crop corn and soybeans already, and the best we can hope for is a spring retracement where if you are quick and take the price on the one or two days the market looks like its gonna blow its top off, you stay in business and prosper.

"Peace on earth would mean the end of civilization as we know it" Joseph Heller
Senior Contributor
425Cat
Posts: 1,504
Registered: ‎05-14-2010
0

Re: bull flag in corn??? and this time of year

I'm a bear but not quite yet Steele
Senior Contributor
farmerguy89
Posts: 1,012
Registered: ‎06-30-2012
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Re: bull flag in corn??? and this time of year

Basis is pushing corn bids up here for sure... should be 4.50 come spring harvest.. and over 5 if I could get some into America.

We have gone from like 3.60/ bu in Oct/Nov to 4.15 at the elevator.. if you can go to the end user she is already at the 4.40/ bu mark.

 

The best domestic deferred bid currently is 4.80... I guess you can pay for a 80,000 bu bin in almost one year by storing your corn.

Advisor
giolucas
Posts: 1,093
Registered: ‎06-25-2010
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Re: bull flag in corn??? and this time of year

425cat,

 

What do you see in Beans?

Senior Contributor
425Cat
Posts: 1,504
Registered: ‎05-14-2010
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Re: bull flag in corn??? and this time of year

Retest of recent high probably about it.
Senior Contributor
425Cat
Posts: 1,504
Registered: ‎05-14-2010
0

Re: bull flag in corn??? and this time of year

Farmer guy where do you think you can get that kind of bid in America. I live close to the Toledo ports and we ain't even close. Are you talking deferred or nearby also
Senior Contributor
NDf
Posts: 326
Registered: ‎05-13-2010
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Re: bull flag in corn??? and this time of year

[ Edited ]

My guess  he is quoting in canadian money

Senior Contributor
farmerguy89
Posts: 1,012
Registered: ‎06-30-2012
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Re: bull flag in corn??? and this time of year

[ Edited ]
By the time I take usd from medina new York and convert It to cad in Canada it's over 5 bucks.That's spring too

Sorry, I did not clarify. The currency is helping breakevens big time here next year.

It certainly is interesting times since we've lost parity... Can't go to the USA and buy equipment cheaper anymore: there's no accelerated depreciation here, obviously.