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Wkly Corn (closeup), daily CRB
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Re: Wkly Corn (closeup), daily CRB
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Re: Wkly Corn (closeup), daily CRB
looks to be in a solid downtrend on daily...could find some temporary support @ 79 area. However, euro has already made new highs for year, so i don't see this support for long.
76.5 for a 3 month objective and 74-72 perhaps, for a 6-8 month target. then, late 2008 winter lows in the 70.50 area aren't too far beneath that.
watch crude this week----if it can avoid any more downside, this will have important ramifications across the crb.
c-x-1
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Re: Wkly Corn (closeup), daily CRB
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Re: Wkly Corn (closeup), daily CRB
Cat,
they have not broken my wkly or monthly up-trend lines, YET...KINDA hugging the lower up channel line like corn.
i have another name for the pattern i believe you're referring....one could get even more fundamental (basic) and just call it an A-B-C flat correction in the Elliot count -- wkly/monthly
I'd like some thoughts on a more complex issue (quantitatively) -- i'm not saying the bean crops NOT BIGGER than USDA - Sep, but HOW could it be bigger with about 2/3 of the growing area recieving less than 1 inch of rain in the 45 days from 8/1 - 9/15? -- i looked back 10 yrs - this yr was LEAST amount of precip in those 45 days.
we've heard lots of reports of "better than expected" yields, but could this be a psychological thing............the reporters are not a scientific "random sample", but could they be more apt to report out of elation on better yields?
thanks, anyone...any thoughts will not be argued by me.
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Monthly bean continuation
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Re: Wkly Corn (closeup), daily CRB
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Re: Wkly Corn (closeup), daily CRB
yes, i agree.
US is on target to be 85-90% sold in 1st mktg quarter.........so matters could become dicey for users needing product until Mar/Apr timeframe.
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SA will need timely rains
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