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Mascoutah, Illinois | Blackbox trading sums it up for the technical aspect. Fundamentally, we do not have many acres of grain seeded for 2010 in the United States. The South American crop has been priced in for quite sometime and I don't see a catalyst to take us lower until I saw what China did this past week. When we see planters rolling and an early seeded crop, I might get excited. Maybe? We just grew a bin buster in the most challenging of conditions. If we have a "so-called perfect year" how much better can it get? My opinion is we don't exceed 2009 thus we have less carryover in 2011. Just my one cent after the bean debacle today, maybe closer to a half cent.
I am a contrarian and like to take the empty side of the boat. When I see sixty plus percent of the majority grouped together, I believe it is time to leave that party and start one by yourself. It can very lonely at times, but can be extremely rewarding as well. | |
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Where are we now after today's report???
