Hi Trades,
Thanks for the charts, comments.
Now that you have gotten into this, what's the "take away" here from your eyes ???
I have NOT been following the grains closely at all, beyond observing the Corn price dropping nearly daily all month.
In fact, now looking a bit more carefully, all three, Cx, Sx, Wz on a 2 year daily continuous chart look like they are all pretty close to what I might call "support". ??
Cz as you mention at 600
Sx 1174 ish maybe, but 1063 looks more like a "real support" ???
Wz around 600 as well
Looking at the "seasonal charts" all could be due for a bounce up about now ???
I have no clue what is going on with the crop harvests ??? None of the farmers seem to be posting of late, so my take is that they are doing just fine and so far happy with the prices, even though they have been dropping all month of Sept.
Looks like Cz was "limit down" Friday but my numbers are gone. Looking at the Fri. bar was down more than the 30 cent limit ? Maybe the exchange has increased the daily limit - did not look.
Anyway, given that things rarely go straight down, it looks like this month long drop in all 3 markets are due for a correction ???
Thoughts ????
That is the implication I see from this post on Corn ......
Thanks, Lee