CL Redux

Quote from Picaso:

Quite an impressive move indeed

Nice trades everybody

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Some serious inflation is coming.
 
Quote from EON Kid:

Some serious inflation is coming.
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Maybe, but grains are locked limit up today because of USDA's report - and softs moving in "sympathy"
 
Here were my thoughts earlier this week in another thread.

startraitor


Registered: Jan 2008
Posts: 2415


10-04-10 12:42 AM

The retreat will be short lived. There is no wiggle room in the ags going into next year. $4.55-$4.45 should be a bottom for corn.





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Quote from ksthomsen:

"WASHINGTON, (Reuters) - The U.S. corn stockpile hit its largest level in four years as the autumn harvest opened in September, serving as a buffer against a smaller-than-expected crop that has driven prices to two-year highs.

The stockpile on Sept. 1 totaled 1.708 billion bushels, the government said Thursday, surpassing expectations by 21 percent or 296 million bushels.

Corn futures on the Chicago Board of Trade fell sharply after the report, closing below $5 a bushel for the first time in two weeks. Don Roose, analyst with U.S. Commodities in West Des Moines, Iowa, called the figure "a bearish shocker" and "a big cushion for a shortfall this year ... Now you can handle a lower yield."

This more than profit taking. I hope this adds some clarity....Kevin
 
Quote from startraitor:

Here were my thoughts earlier this week in another thread.

startraitor


Registered: Jan 2008
Posts: 2415


10-04-10 12:42 AM

The retreat will be short lived. There is no wiggle room in the ags going into next year. $4.55-$4.45 should be a bottom for corn.
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Yeah, I saw that call, which was particularly bold considering that day grains had taken it on the chin. Nice.
 
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