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Hi Larry,
I was intrigued by your post. I am watching technicals on Dec. Corn, and it
shows a very strong downtrend, but with the possibility of a major
reversal(without any confirmation). I use Fibonacci method to time my trade.
Unfortunately I don't have any "Time Day" for this coming week! However, your
fundamentals seem to beat me in my technical analysis.
Can you suggest a good web site for some very good insight into the
fundamentals of the grains market(mainly Corn).
Many thanks in advance!
Frank
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From: owner-realtraders@xxxxxxxxxxxxxx on behalf of LHonigAtl@xxxxxxx
Sent: Sunday, June 29, 1997 11:13 PM
To: RealTraders Discussion Group
Subject: Re: grains
Well, yeah, why not, I'll go out on a limb before the Monday a.m. USDA
reports (which come out prior to grains' opening at 10:30 EDT). Everyone is
expecting no big deal, so that's the odds-on bet. My viewpoint has been, as
this group knows, that Corn estimates were way, way understated by the USDA
in the March 30 crop report. I think we will see in FACT (if not in early
REPORT) big increases in (a) acreage and (b) yields (bushels per acre). We
have already seen dramatic (25% to 35%) decreases in exports on an annual
running-total basis (the USDA reports weekly, not "last 52 wks."). Thus, it
is just possible that the facts could start to come out Monday morning
(rather than later in the growing/harvest season). If so, Corn will be limit
down all week. Thus, I am short Dec. Corn. Now. Ahead of the reports.
Which is usually dumb. So, out on the limb and telling you all about it.
If I have egg on my face later, I'll lay low for a few days in terms of the
RealTraders, okay? Gotta maintain the fragile male ego.
Good luck.
Larry
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