The USDA final number for 2010 will be out in 12 minutes. As I write this, I have to lean towards predicting a lower day at 1:15 in the grains when the smoke clears.
My experience is that markets serve to punish, to a certain extent, as many people as possible.
From talking to producers and other traders, I would say that universally the feeling is bullish.
When every one is going one way, and is comfortable, that’s when you have to head the other way.
I am not predicting armegeddon. It just seems that with grains at 2-1/2 year highs, and with traders looking back at historical highs salivating, the market has an obligation to take the wind out of their sails.
So, I am on record, looking for lower numbers on the day, no matter what the goverment says for the grains.
That is all.
CER
