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| Recognizing a lot of folks remain bullish on corn, I am going to try and avoid that subject as they just might be right. However, I just cannot see it. Just sold July once again...no stop loss in place.
Bought some May wheat to increase my risk...and am cancelling my bean buy orders.
Just hung up with a long time bank owner friend in the Southwest. He's been at it for 40 years & owns quite a few--sez he's never witnessed a similar mess. Lot of huge banks are hung up, sez his firm has a quality portfolio but difficult to access correspondent credit as there simply is nothing going on for good banks who need credit lines for their own big clients...system all frozen up until some of the issues get settled. Not necessarily worried about economy, these big banks just became too large & all made the same mistakes and have to sort through their problems.
Now going to shut my computer off until 3 am & let you fellows take care of this.
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July Corn
