Corn has been mentioned over the past few weeks in the
newsletter and its been a great buy. I think a few nights ago it
was noted that there is probably one more push up to go in this
current cycle. Of course the long term is bullish.
One thing I look at (although its not the decision maker for me.
Far from it. Its I guess additional info only) is the commercial
and non commercials futures positions
The non commercials are at record longs on corn at present and
the chart is kind of scary. It tells me that after this last push
up, we may see some sideways action/consolidation. However I doubt
there will be any deep retracement
Timeframe in the chart by the way is Jan-06 to the present date
by week and shows the # of non commercial net long contracts by
week
Regards
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CORN
Posted by vimal on 27th of Oct 2010 at 06:11 pm
Corn has been mentioned over the past few weeks in the newsletter and its been a great buy. I think a few nights ago it was noted that there is probably one more push up to go in this current cycle. Of course the long term is bullish.
One thing I look at (although its not the decision maker for me. Far from it. Its I guess additional info only) is the commercial and non commercials futures positions
The non commercials are at record longs on corn at present and the chart is kind of scary. It tells me that after this last push up, we may see some sideways action/consolidation. However I doubt there will be any deep retracement
Timeframe in the chart by the way is Jan-06 to the present date by week and shows the # of non commercial net long contracts by week
Regards