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Senior Contributor

OptionEye...March 22

Good morning.

 

Technical selling coming in again today as the futures continue to come under pressure. I think that this market got ahead of itself and is recalibrating for next Friday's numbers.

 

We have breached the 50 day moving average and we are flirting with the 100 day. The 200 day is still up around the 667 level.

 

Oil trading easier as well as equities. The dollar being stronger could add some more pressure.

 

Feels like the apocalypse is upon us as this weather makes me nervous for what may come this summer.

 

Good luck today.

 

 

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3 Replies
Advisor

Re: prefices...March 22

We are right on the ledge of support according to my charts.  Come tomorrow if we close below here it looks bad technically.

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Senior Contributor

Re: OptionEye...March 22

So guys which market are you guys talking about  is it: corn, wheat, or  kcwheat?  NOt much of a mindreader here maybe I would be better If I was in the same room. LMAO

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Veteran Contributor

Re: OptionEye...March 22

Scott, Skilling says 9 of the 11 years with historically high temps similar to this have resulted in warmer than normal summers.   FWIW

 

NO corn planters seen yet in NE-ILL.  Too much risk.  Maybe try some next week for a few.

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