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Commodity Trading Discussion Forum

Corn...long decline!

Posted By: Seall
Date: Thursday, 24 July 2008, at 4:54 p.m.

In Response To: Re: Commodities Roundup: Corn (Blondie)

Wonder if at these prices, Ethanol plants will be buyers, and that lot of shorts also seem to be in place[length of decline].
The charts indicate an oversold set-up with stochastics suggesting an effort to upturn. We need to test y'day's low or get close to that; and confirm a rebound with a close higher than today's to make a good POS dent on the charts to encourage buying.
But the crop report unless out, will prevent major players to enter...I think.
Whatever is the case this is NOT a place to sell, those who re bearish need some rally/run up to go short!

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