No clear trading ranges in this market, yet.
I would hate to be a speculator trying to earn my day's wages shorting the grains and buying them back. You have to be pretty nimble and lucky to get in and out of positions in the last six months, as the rally seems to keep going and going. Seems like pretty positive action today after a weak overnight. I know that I am getting close to bailing on a good portion of what I have left from 2010 production, and starting on 2011 sales. Another 30 cents up on the corn....and 75 cents on the soybeans, and I think I will throw a lot at the market. And if I do that, you can bet your bottom dollar we will see $8.50 corn and $20.00 soybeans. Or higher.
Those holding all or most of 2010 production must be on pins and needles right now.
Re: No clear trading ranges in this market, yet.
...I don't know about being on pins and needles...but I've been waking up in the middle of the night and checking the markets quite often lately...LOL.