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| I had a few errands after the close & then caught some sleep. I just downloaded the CFTC data but have not studied it...we now have a lot of variables. Frost in parts of Canada along with wet & it would appear some frost did bite a couple of areas in NE China & it appears another couple of areas in the country will be frosted early this morning or this weekend.
The futures act like $6 is the next level-I reduced my position to 1/2 of corn & wheat & do not have any preconceived price ideas yet. This can be sort of a poker game as folks, including the Chinese, who will need corn & are also approaching harvest in some areas of their own countries have some decisions to make. Gulf barge prices for corn are 25 cents below last year & 2008 so there must be some offerings hitting the river. If those dry up, we'll then see what its worth.
Corn often tops differently, in my experience, than soybeans-but then again, not always. A first clue is a downside gap lower open on the day session & if the gap is not filled after the first hour of trading it is a seller with a buy stop 1/2 cent over the previous session close. This gets tricky & may get stopped out a couple of times but if such a downside gap remains unfilled on the close then it time to sell more & wait a day or so & if on still on track...let them have the boat full & keep the beads handy. I do not think we are close to this point yet.
In addition to the market variables, we are sliding into the election with both parties in trouble & there most likely will be a lot of vote buying ahead & if some of these bums get kicked out....we'll have a lame duck group who will want to steal as much as they can before they leave office. So the corn fundamentals are not the only issue.
Also have a question about the old days as I am doing some writing this weekend. As a youth when conveying both loose hay and bales into the hay mow, with a hay fork & a team of horses...after we neatly stacked the hay bales in the hay mow...we would scatter loose salt on the hay....does anyone know why we did this? I should know but have a memory block about it.
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Re: Women & Children Question from below
