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Mascoutah, Illinois | I didn't say I thought 162-162.5 was priced into the market. I was asking myself if maybe it was priced in. I think the markets will wait for some combines to roll looking for more clarity and which direction price action should head. If September wheat trades down to $6.50, I would load the boat for a move higher. The thought sticking in mind the most is we saw this same kind of move higher after June 30th last year, and the highs were in by the middle of December. Markets tend to move symmetrically and the comparisons between last year and this year look similar. Grains have moved to the upside when historically the price action should be in the other direction based upon the calender. This has been going on for thirteen months. I have to believe some kind of bidding war for acres should take place in 2011. Short term, I am defensive. Longer term, I believe we should be heading higher into March of 2011.
Edited by djmcountryboy 8/16/2010 20:17
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will the grain trade
