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Rome, Central New York | I agree. The supply of bearish news has run out. Short of discovering the moon is covered in grains and the space shuttle is outfitted with a combine and storage bin, the bear well has run dry. Bottoms are made through indifference. Good wheat progress report failed to push price down anymore. And here's a snippet from another forum regards the coinciding cycles for drought probability:
Possible weather cycles to affect the grain market by BeanAnalyst - Monday at 4:14 PM
Some of the weather cycles to affect the grain market this summer include:
1.) A 40 year hot temperature cycle that occurred in 1930-1970-2010.
2.) A 27 year cycle of Midwest Droughts (1956-1983- 2010).
3.) A 15 year cycle of Midwest Droughts (1980-1995-2010).
4.) A 7 year cycle of Midwest Droughts (1996-2003-2010).
5.) A 22 year cycle of droughts (1966-1988-2010)
Today, soybean got down to the bottom supports lines on weekly charts. More than likely these support lines will hold and prices will bounce up to the upside. | |
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Talking about corn [ coup]
