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425Cat
Advisor

CX-1

CX1 Throw up a corn chart will ya. Havent heard you weigh in lately. Corn should have a good bounce from here. Got the report in the mix though

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8 Replies
c-x-1
Veteran Advisor

Re: CX-1

Cat, unable to put up a chart for various reasons, but my take is good support here - 1st resist 525-550 - above that, i believe the collective was laughing.Smiley Sad

 

remember rule of thumb for OI delta as price evolves 

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425Cat
Advisor

Re: CX-1

"I believe the collective was laughing" lol that's a good one
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c-x-1
Veteran Advisor

Re: CX-1

thanks,

standup com is one of my careers.

 

what do u see as upside - or do you see a guru propagated 20 cent channel for the rest of eternity?Smiley Wink

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425Cat
Advisor

Re: CX-1

Nice reversals today in corn and wheat. If corn makes it to five fifty truly a gift
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Hobbyfarmer
Honored Advisor

Re: CX-1

An up 3 cent day signals a $1.26 further rally?

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c-x-1
Veteran Advisor

Re: CX-1

there is a corrective bump from the down move around $5.30 on July chart and $5.50 is about 50% point of total down leg...

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timetippingpt
Honored Advisor

Re: CX-1

I tried to post 2 charts, but "can't be over 20,000 characters" site prevented it. Just have to go to the website after I put it up there this morning if you want to see them. CX, might I suggest a little deeper study of history. The 2 years after drought never see a 50% retracement of any leg down, 3/16 or 1/8 of the range at that time is all it normally does.

 

A look back to 75 and 85 are in order. 96 is also good.

 

So, yes we "should" see a nice rally into spring. The normal rally would be 1/8 of the new range = 75 cents. The 75 cents includes the carry, so from the current low at 4.10, target would be 4.85. July is already at 4.40, so it is only a 45 cent rally in the July option.

 

Just old school stuff that few care to consider. jmo

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c-x-1
Veteran Advisor

Re: CX-1

the only weather - wise analogues compared to last few years are the 1930's and 50's. IMO, the charts/patterns of last 20-30 years aren't far enough back or deep enough to compare.

 

I've seen most grain charts back to 1800's.

 

back to weather...a quick check into the amplitude of temp/precip - don't have that charted - know we are seeing amplitudes and frequencies not experienced for a few decades.

 

Indeed, EVERYTHING MATTERS and has some effect on everything else, including corn/grain markets. 

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