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Mascoutah, Illinois | I am looking at a March 2010 corn chart. We currently have resistance at $4.24-$4.25 which were the interday highs on October 23 and November 18 respectively. If I am looking at the chart correctly, and with "quadruple witching" this Friday, should I be selling a large portion of corn in the $4.20-$4.25 area? We closed today at $4.08. The basis in St. Louis is in the toilet for December @ minus 30 cents. April basis is minus 5 cents.
My opinion is basis will improve after we digest all of this harvest.
Regardless of my opinion and regardless of my call to have all of your grain sold by year's end, is this week the time to unload a large portion?
"Kadman" made a great point that between January 8-14 a large amount of indexing must be done.
I guess my problem is my gut is telling me one thing and my mind is telling me another.
ANY HELP WOULD BE GREATLY APPRECIATED. THANK YOU.
Edited by djmcountryboy 12/14/2009 17:45
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- Ehoff, Farmpro11, or any chartist, need help with March corn. - djmcountryboy : 12/14/2009 17:37
- Re: Ehoff, Farmpro11, or any chartist, need help with March corn. - SeniorCitizen : 12/14/2009 18:31
- Re: Ehoff, Farmpro11, or any chartist, need help with March corn. - ehoff : 12/14/2009 18:53
- RE: Ehoff, Farmpro11, or any chartist, need help with March corn. - yoohoo : 12/14/2009 19:19
- Re: Ehoff, Farmpro11, or any chartist, need help with March corn. - Ed Winkle : 12/16/2009 15:26
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Ehoff, Farmpro11, or any chartist, need help with March corn.
