Bold prediction

[vrbuck]

By the end of the week we should be knocking on the door of 4.00 dec corn. My exact resistance is 3.98. It’s getting exciting.

[wrightcattle]

The corn sails are Up,  and this ship is leaving port.

[BA Deere]

From the production side, corn in NCIA & SMn  is running out of gas.  There are yellow Minneapolis-Moline fields out there, and the "good" fields are draining the green color out like it saw a ghost.   That constant 2,3" weekly rains really leached the nitrogen.  Pioneer dealer says get 40lb N out there asap or kernels will be aborted, like my insurance company, but I don`t know if I want to do them that favor and that`s what this crop is, a "insurance deal".  Much of it doesn`t have good odds beating a frost.   I think the beans have a good potential yet this year.   

But I know "the I-90 corridor doesn`t matter" ..It`d be nice if the Chipster takes his Poor Farmer Tour through here, I`d buy him a 12 pack of Busch Lite  (somebody in the neighborhood likes Busch Lite, I find a lot of cans that I redeem at nickel a can)    🙂

[rsbs]

very little corn on corn in fields around here (south central Minnesota) after a decade when corn seemed to rule. We are looking at diminished production due to flooding and extreme rain, too, so our basis should be pretty good next summer.

Lots of new hog barns, the ethanol factories are running 24-7, and unit trains seem to be going on a regular basis out of here. I would think your prediction of $4 corn is sound.

[timetippingpt]

Funny, VR, I have today as an excellent day to sell Corn. Simple wave theory, and of course, I hope it can push through today's high and go higher, but this is a good place for some defense it would seem to me.  🙂

[k-289]

BA   -  Wondering   where  that  40lbs.  of  N   is  now  located ?   

[vrbuck]

Unfortunately, I put very little trust into elliot wave with the fifth waves that never come and upset waves left for interpretation.  The interpretation is that they always need to be redrawn.  Sorry Pennsylvania Dave, no insult is meant.  Overtime we try to test support buyers step in.  We hear more people hoping for price to drop so they can buy.  My exact first target is 4.28 (old highs). Then 4.45.

[vrbuck]

Im wondering how they will put on the 40 pounds of N.  In my neck of the woods Fungicide applications where 1/3 of what it was last year, even after the trump bailout .  The package is based of production so farmers have to know fungicide would put dollars in their pockets.

[vrbuck]

I have decided to pull a trump and have MAGA be my theme on ag online. Make Agriculture.com Great Again.

[timetippingpt]

Nothing Elliot about it.

Just 36 days down and now 18 day recovery to a lower level, simple definition of a bear market rally that can be used to be defensive until we see if the rally can continue higher which is unlikely until we get through Sept FND.