Grain Market Poll

Quote from Shaqi:

As long there is a fears of recession cotton like most commodities will remain under water - no matter what the numbers say. Going back to 1973 I dont see cotton bottoming out until its near around 30. :D
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I disagree...funds are recklessly short cotton and it's such a deflationary commodity that it could actually find some traction here...fundamentals aint bad either...i'm long...
 
Agreed...for the very near term though is all. As per the blog I am out of my long Dec. corn...locked up a 36pt gain and will be waiting and watching now...
 
Shaqi...which month did you go with on the cotton trade? I don't necessarily agree that it goes to 35....but I'm also not bullish on it. I will say tha $.50 level attracts a lot of interest...govt. loan program support is near there...
 
December Cotton. I will not necessarilty hold it until 35. Who knows I may exit it tomorrow or I may be stopped out 5490 - lets see how the action pans out - I know its trading low but does not mean it can't go lower:D
 
TraderX - Do you have the historical information about this govt. support program?

Quote from traderTX:

Shaqi...which month did you go with on the cotton trade? I don't necessarily agree that it goes to 35....but I'm also not bullish on it. I will say tha $.50 level attracts a lot of interest...govt. loan program support is near there...
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no...but in addition to trading, I also have been invested in farmland over the last 4 years here in Texas, so I am familiar with the govt. programs. Base loan payment is roughly 52 cents, with premiums/discounts from that level based on grades....this stuff can change though with each farm bill...I just have a hard time believing that the futures price would trade much lower than the govt. support level....cotton doesn't pencil at even 60-65cents right now...I don't know who would grow it down at 50-55...sure as hell won't be me....but then again I just let the rental places go and am lining up an equipment auction...I've made my money and now I'm out...none of the crops are showing decent budgets for the next few years....
 
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