Kluis Comments 1/21
Wow it has been quite a week, it is -27 in Wayzata, Minnesota with a – 34 wind-chill this morning. I got to work wide awake. Also, yesterday a 27 cent trading range in corn futures and it is only January. This type of volatility and the price action in gold and crude oil is a real caution sign to me. Long term I think corn and soybean prices can go higher, but short term we may be putting in a top. A lot of the cycles I work with project a high on January 20 or January 21 with a low due late this month or in early February. I am on my way to Colorado next week to speak at the Colorado Farm Show in Greeley, Co on Tuesday and Wednesday. I hope to see some of you at the show.
Re: Kluis Comments 1/21
Could have seen a double top today. Wish I would have had a sell order in at the $6.79 July 2011 mark. Monday morning I might be saying I should have sold the whole lock , stock, and barrel.
Could have, Would have, Should have.....didn't. Famous last words.
I hope that you are wrong, Al. Have a great weekend.
The positive thing about today's markets was the old crop/new crop spread narrowing, signifying some attention past the tight 2010 crop inventories.