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Re: Floor Talk March 7
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Re: Floor Talk March 7
Buckley,
I believe underlyers and technicals are as strong if not a little stronger for Corn...3 higher lows on daily prompt. i'm sure plenty of farmers are sweating new crop cont. to show weakness (i would be).....not sure how it can still be selling like this.
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Re: Floor Talk March 7
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Re: Floor Talk March 7
sorry, Mike,
just saw your question--was on page 2. I use spreads to gauge relative strength. when you have a front/back or new/old spread 40-50 cents stronger than May contract relative to Dec prices, simply adds underlying overall bullishness for me.
ie. best way to say it is spread is bullishly divergent. look @ charts-May, then May/Nov.
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Re: Floor Talk March 7
yes Buckley,
don't think anyone can declare drought over with....Dec. has NO risk premium @ these levels, so if i was long in this trade as 90%+ farmers are, i would hang in there, not panic (the end users would LOVE these prices) and have a good sweat towel handy.
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Re: Floor Talk March 7
USDA has declared the drought over with their expected 163 corn yield.........it's getting tiring waiting on the risk premium.
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Re: Floor Talk March 7
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Re: Floor Talk March 7
yes & lowering the insurance coverage perhaps, Shaggy...when are those prices set?
just keep the electrolytes flowing and stay hydrated roarin!
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Re: Floor Talk March 7
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Re: Floor Talk March 7
Yes Yes yes mike,
New crop bids are saying More bean acres.