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| Means any long in past 5 days has a loss. The bubble from the big reports has disappeared. Am lowering my stops on July corn to 1/2 cent above Friday's highs. Wheat seems to hold the best of all, but old crop wheat has fewer speculative longs.
I also suspect there are some lights on tonight at the US Treasury & at the Federal Reserve; unfortunately, I suspect congress is either asleep or reinforcing strategy for the big sweep this next election. Going to be a tough road for the current administration to fight the odds on this one, unless they have some rabbit to pull out of the hat most of us are not aware. | |
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5-day Island on Corn, thus far.
