|
April 27, 2023 Big down day… and probably just going to get bigger and bigger…
Down 11 cents here today…And exactly the same case as Corn…Virtually EVERYONE in the ag analyst community has been looking for higher prices…and now they are confused by the weakness and this unexpected (to them and all the farmers who listen to them) drop to almost 10 months lows…Believe me, farmers have lost a dollar per bushel in the past week or so…and they ARE beginning to think, “Maybe I should get some sold.” And the next thing we’ll likely see is them selling more…and more…and more…as Soybeans absolutely crap out.
AND YES, I DO THINK WE’RE HEADED FOR UNDER $11.00…If that sounds nuts to you, think back to last year and Cotton dropping from $1.40 to 70 cents, or Wheat from $14.00 down to $7.00, or Crude from $130 down to $70 (all of which I recommended as MAJOR shorts) or Natural Gas from $8.00 down to $2.00…NONE of those bear markets were “supposed” to happen…but they DID…And though I might be dead,dead wrong, I am 150% of the opinion that the same sort of thing is NOW UNDERWAY IN CORN AND SOYBEANS. I urge you…Don’t blink…Don’t think “they’ll go right back up again,” DON’T MISS THIS. Call me. Thanks, Bill 770-425-7241 866-578-1001 All option prices in this newsletter include all fees and commissions. All charts, unless otherwise noted, are by Aspen Graphics and CRB.
The author of this piece currently trades for his own account and has a financial interest in the following derivative products mentioned within: Corn, Soybeans |
|