More observations for Opinion !!!!????
These Corn contracts have been trading now within the upper nickel of Price below the daily limit for some time now.
What interests me is the TRADING VOLUME. Seems to be High to me.
Seems there are PLENTY of sellers getting out of their Long positions here.
Yet they are being "snapped up" by others willing to go long at this price level.
What is the Motive ???
Some profit taking for sure.
But it is starting to look to me that there are a substantial number of traders who may think this run up may take a quick breather !!!???
There is a LOT OF TRADING GOING ON HERE and I am getting suspicious.
I do not recall EVER seeing this volume of trading subsequent to a "limit up" condition.
The best I can tell, it doesn't look like it is going to "cool off or rain" any time soon in the corn belt !!
Maybe Limitup or Randolf will have some thoughts on this. I will try to "wake up" Wayne as well !!