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Mascoutah, Illinois | Why is everyone up in arms after today? I remember back to the June 30 planting intentions report where I vehemently questioned the corn acres in Illinois? 75-80% of the folks on this site defended the USDA after I posted my thoughts. Here we are six and half months later and the tide has turned. Now 75-80% of the folks want to bash the USDA. Has everyone already forgotten what happened in 2009? Soybeans bottomed on February 28 and rallied a subsequent $3.50 dollars or so. Corn rallied approximately $1.75 off of the lows.
As for grain storage: It takes approximately three to six months or so just to get a bin put up around here because of the backlog of bookings.
The corn market has been telling you to sell for the past six weeks. Corn has hit resistance around $4.25 at least four times and has failed at every attempt to go higher. When it keeps failing, YOU NEED TO SELL.
Now if all of the pi$$ing and moaning will subside and you can remember the past three years, the rally doesn't start in grains until the first week in March and has lasted until the end of June. The dollar is historically the strongest from December until February. Any coincidence why grains are weak this time of the year? NO!!!
Funds will step in again and start buying. My opinion is to stop fretting about the markets until we see March 5 on the calender.
I know I am going to get blasted for this post. Feel free to send your hate mail. LOL!!! | |
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Why all of the crying after today?
