cancel
Showing results for 
Search instead for 
Did you mean: 
NCcorntrader
Senior Contributor

Evening Trade 8/23

Corn had a chance to sink today with some selling at the open , but buyers came in quickly to bring the price back up to overnight levels. The resilience of the long trade right now is pretty incredible.

 

1940 ET

 

Dec at 742. Small volume compared to the last couple of nights.

 

** my take ** - continue to be long this market. there have been a few dips in the past couple days from profit taking, but there seem to be plenty of buyers waiting for 5 and 10 cent drops to get in. Thinking hard on Ben B's comments come Friday. QE3= rocket shot. Not sure how to be positioned yet. 

 

2115 ET

 

Prices have inched up a hair to 743. Still fairly low on volume.

0 Kudos
2 Replies
jonnybegood
Contributor

Re: Evening Trade 8/23

I think most expect Ben B. to have a QE3 in some form. More paper = a lower dollar and inflation. Should be supportive of commodities and hard assets in general. My 2 cents.

0 Kudos
hardnox604008
Advisor

Re: Evening Trade 8/23

Which will turn out like the last one- no inflation other than oil and food.

 

Which ultimately proves deflationary.

 

But you can't fault them for trying and you can't fault, I guess, da boyz for hoping or at least gaming it.

0 Kudos