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| There is no reason right now* for corn to go up. Managed money is nearing record short position knowing that farmers will have to bring in grain to sell and in turn merchandisers will sell the board letting them out of their shorts for huge gains. The funds knew which way the market was going, they set up a huge position to help it get there now all that's left is the exit of the trade which they know is inevitable. Or there could be some armchair bandwagon suckers out there that want to jump in short right now too, late to the party, as most markets go... and they will also be the opposite end of the trade for unwinding the big short. When the farmers and the bandwagon hoppers sell, the big short gets lifted, then the spring weather market will determine the direction from there. And anything can happen from that point on... including $5 corn. | |
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Long and wrong
