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TFC Commodity Trading Forum

Re: Corn prices higher/Lee

Well that Corn ETF I posted a chart of isn't the front month either. It is a combination of 3 futures contracts so do not just reflect present conditions. The 3 contracts are Sept/12 and Dec/12 and Dec/13. So present weather conditions are not going to affect the Dec/13 contract much are they now. And the chart still broke out. That is my point really. But this isn't marriage and is not rocket science either. It's just another trade with a stop in place if and when wrong. Some grain traders think they have to be glued to the local radio station for the next weather or crop report to find out what to do next. The odds of what's next is already reflected in the price chart. Smart money knows the odds already. Doesn't mean those odds cant change but the pattern is already there to be seen. There is a wide variety of events that can and do affect any market. And some markets are more volatile than others due to extraordinary events. But the charts will show these odds and price action patterns on everything always. If this wasn't so there would be no such thing as trendlines or channels or breakouts and breakdowns and other technical patterns. A chart would be nothing more than a bunch of squiggly lines that didn't chart out anything at all. But I do get tired of trying to make this point.