Buy the rumor sell the fact? Rumors that China bought beans. Nice to have calls on. Limit up corn the day before the number?
Personally, I think this could be the ultimate buy the rumor sell the fact.
A $2.00 corn break. 73cent rally back? That’s not even 1/2 way back.
6.75 is 1/2 way back. 7.00 is 62% retracement.
I would have no new positions on futures wise in front of this number.
If you have an idea, spend 4 to 8 cents on some November options which have 10 days left til expiration.
40 cent limit today for corn opens door for 60 cent limit tonight.
The Stock indexes have still not gotten to 11,450. I am not so sure that gives much resistance any how. I’d be more inclined to wait til 11,550. I’d love to see 11,825 on the upside to sell into.
Tomorrow should be interesting. I just bought some CX 6.00 puts for 5 cents.
We’ll see what happens tomorrow.
CER