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Central Indiana | Thanks for the targets Spikes. Question for you though…other than hitting a support line at around 4.40 what is the reason for the support? Demand is supposedly lackluster at best and there’s no real news out of SA that’s shocking. Trying to understand where the support is coming from? Is it just a measure of funds becoming comfortable with their positions since they’ve liquidated as of late?
I can understand resistance points in the event of a reversal up. Bullish news out of SA or a spike in demand from Mexico or China would provide the support. Little too early to worry about US weather to create another jump so I believe we are limited in this range of 4.40-4.60 for awhile. Just wondering what causes the support for prices to hold above a certain lower resistance point? Thanks | |
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Corn is
