Did we just start a new leg up yesterday? or is that just "Hope!"
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boarderbloke . . . strong bargain-
hunting type buying is created this
rebound today. Also, Bank of Japan
stimulus news is adding a positive tone.
But technical damage is done. And to
repair that, fresh bullish news is
needed, beyond bargain hunting (IMO)
Rain forecasts in Brazil is maintaining
enormous production forecasts in South
America.
With the corn price drop, wheat (IMO) is
ripe for a possible setback. Wheat has
been replacing corn. Now global corn
values are in-decline. Grains are now
trying to find their new trading range.
Major soybean volatility is huge
(possibly $1/bu wide right now). $15.90
to $16.90/bu range. Canola futures wide
ranging as well.
an opinion for what's it's worth . . . .
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