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Honored Advisor

Resistance areas?

Any chart guys out there that know the latest resistance areas on the corn and bean charts?

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9 Replies
Honored Advisor

Re: Resistance areas?

Come on RT, haven't you been listening? Everywhere here in the stratosphere of these high prices is a resistance point as we already almost have a record crop in the bin and prices are going to plummet to the basement momentarily.

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Honored Advisor

Re: Resistance areas?

Ha ha......yes, I should've known better.

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Veteran Advisor

Re: Resistance areas?

roarin',

what months you looking at? if i may ask---this for trad(e)ing as ECIN saysSmiley Wink or for mktg purposes?

 

thanks,

c-x-1

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Honored Advisor

Re: Resistance areas?

Both old and new crop......

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Veteran Advisor

Re: Resistance areas?

ok,

like i said if you want to tell me what timeframe you are looking at, etc. (for trading or mktg) maybe i can help

 

thanks.

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Advisor

Re: Resistance areas?

Old corn and beans July

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Veteran Advisor

Re: Resistance areas?

what about them? what timeframe are y'all looking at.....also, gio is better expert on beans

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Veteran Advisor

Re: Resistance areas?

from a post last week on my thoughts --roarin', you were on that thread----my sentiment HAS NOT changed if you are talking mktg.

 

pretty much ditto to what Hobby and roarin' said.....it's amazing--all the analysts are bearish----promise of fall, like last year...just press the recording button.....$4.00 by fall.....over & over again.

 

ONE kinda itsy bitsy difference about this year---not sufficient inventory until late Sep into Oct. the board tells the whole nearterm story....if yer sold out old C/B --find a way to re-own!! SCREW THE TALKING HEADS and maneuvering basis bids or whatever roarin was saying....users can't wait till fall no matter what's being said or how the basis "APPEARS" to be shifting....

 

got to still feed the world and animals...the board says, NOW, NOW, NOW, not later.

 

just might be a perfect storm brewing to accompany the whacky weather and late planting.

 

how 'bout this: here on out till Sep--ONLY SELL THEM A 7 DAY SUPPLY @ A TIME------I THINK I GOT THE CORRECT HEADLINES------WALMART C/B STORE just became the Convenience store---------you gotta PAY UP for convenience.....so maybe you gotta install some bulletproof plexifiber----might be WORTH it.

 

all i'm sayin' is if yer able to buy back some phyzicall from them A Holes-----do it......if not, find a way to get "creative ownership" of as much C/B as u can stomach..........that's ALL i know!!!!!!!!!!!!

.....and that's all i'll say in public.

 

................. and also, the last time bean inverse was similar was '04 when price increased over 60% and '96 in corn and we all remember that one.

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Honored Advisor

Re: Resistance areas?

you have to wonder what it would take for an adviser to actually say "All things considered, There is a lot of risk in prepricing production with such low inventories and weather problems still present."  Even in early April the drought was still strongly in control of the high plains.  And optimum production iffy.  The dollar is still cheap.

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