Anybody else trading corn?

[ergodicity]

Did you?

Unfortunately, the price never reached that level.

Though in the next few weeks, im looking for price to maybe bottom out.

Going for a potential long again.

rationale: perfect crop priced in.

 

[Handle123]

Rain makes grain.

The U.S. Agriculture Department forecasts record yields this year: corn at 165.3 bushels per acre and soybeans at 45.2 bpa, equating to record harvests. Some analysts are penciling in even bigger yields, as high as 170 bushels for corn.

Flooding will only affect 1-2 % of the crop and the mild summer and abundant rainfall will more than offset the flood damage.

bone,

How many times in past say twenty years when U.S. Agriculture Department forecasts record or extreme shortage yields and price goes other direction, and why does that happen? Overseas perhaps? Thanks

 

[bone]

bone,

How many times in past say twenty years when U.S. Agriculture Department forecasts record or extreme shortage yields and price goes other direction, and why does that happen? Overseas perhaps? Thanks

I have no earthly idea - I trade strictly price action. If there is a fundamental driver that is affecting valuation in the market price action picks up on it - that's my mantra.
If you can manage to be satisfied as a trader without timing market bottoms or tops it is an effective approach. I am content to give up trading range in exchange for entry confirmation.

Maybe I take this approach because when a report or economic release comes out, the market typically does the opposite of what I would have thought...