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<blockquote data-quote="John Slejpner" data-source="post: 6288566" data-attributes="member: 819"><p>Even more useful than farmers or USDA at the moment is watching relevant weather and weather forecasts.</p><p></p><p>The USDA by the way have a modus operandi for everything they do which protects them from accusations of market manipulation.</p><p>Hence they use acres / trendline yield only at the moment. </p><p>This presents opportunity on occasion. (Now i would argue)</p><p></p><p>Regardless, CBOT corn has marched without pause from 3.36 a bushel to its current 4.05 over the last week or so.</p><p>4.05 is heavy resistance point.</p><p>Expect a pause pullback unless tonights planting progress figures are a surprise to the downside.</p><p>They are more likely to surprise to the upside as farmers are losing patience and going if at all possible.</p><p></p><p>So the big news tonight is acres planted.</p><p>The real news is state of those planted acres and weather going forward.</p><p>Forecast continues to be awful.</p></blockquote><p></p>
[QUOTE="John Slejpner, post: 6288566, member: 819"] Even more useful than farmers or USDA at the moment is watching relevant weather and weather forecasts. The USDA by the way have a modus operandi for everything they do which protects them from accusations of market manipulation. Hence they use acres / trendline yield only at the moment. This presents opportunity on occasion. (Now i would argue) Regardless, CBOT corn has marched without pause from 3.36 a bushel to its current 4.05 over the last week or so. 4.05 is heavy resistance point. Expect a pause pullback unless tonights planting progress figures are a surprise to the downside. They are more likely to surprise to the upside as farmers are losing patience and going if at all possible. So the big news tonight is acres planted. The real news is state of those planted acres and weather going forward. Forecast continues to be awful. [/QUOTE]
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