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Senior Contributor

Time to get bullish?

As a perma-bear, I lifted my hedges today. Is it time to go long? Nothing has really changed. We had a short crop and the western corn belt is popcorn dry. We have had a pretty good sell-off.Thoughts??

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21 Replies
Senior Advisor

Re: Time to get bullish?

Thinking the same thing wrestler, I've still got some of my short positions and am thinking about reversing them or at least get out of them. I'm just not sure if it's the right thing to do.
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Veteran Advisor

Re: Time to get bullish?

....seems like the bears would have to get outta the market and go back to hibernating--way winter's holdin' on??

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Honored Advisor

Re: Time to get bullish?

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Not every trader believes the usda promotions
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Veteran Advisor

Re: Time to get bullish?

sw,

is the China corn served with Dom Perignon champagne to be that high priced......................and yes I noticed their spot didn't budge on our Headline news of Surplus Supplies..................

 

Thank you sw, i'd heard they were in in 9's last spring and still don't understand how it can't balance out.........call me a Big Dummy again, but?????????

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Senior Advisor

Re: Time to get bullish?

SW, I'm not a chart person, so I've got no idea what your chart is telling me.
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Veteran Advisor

Re: Time to get bullish?

Shaggy, the Chinese front month futures market is trading for about $9.70 and didn't budge on the USDA's Fudge.

 

 

what will allow these mkts to "balance" in your mind, sw?

 

thanks,

c-x-1

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Veteran Advisor

Re: Time to get bullish?

maybe i'm wrong on this thought, but it also tells me they're demand for other countries lower priced corn remains HIGH!!!

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Senior Advisor

Re: Time to get bullish?

IMHO, I believe the USDA knows we are in a real supply issue at the moment. I think the last report was their effort to keep prices in check until we get the crop in the ground and established one way or the other. If the report would have been bullish vs. bearish & then we have additional weather problems along the way, what would price have been later in the summer? I very well could be way off base here, but I really can't think of anything else that is logical.
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Veteran Advisor

Re: Time to get bullish?

i remember good & well you figured they'd keep prices in check with their reports.........

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