Peter Brandt has called my attention to this.
It might become a good trade opportunity in corn.
I still think we need more bullish signals to go long, but who am I to argue.
See for yourself…
“…We are at or near the top.
1. Meal supply is very tight. Meal spreads have been inverted for some time, with the nearby expiring December contract presently trading at a $25 premium to the March contract. As a general rule, it is never wise to be short a market that is inverted.
2. The nearby continuation chart of Corn displays a small H&S bottom (see below) — the individual contract charts do now show this pattern. A continuation chart tends to better reflect the cash market.”
Respectfully copied from Peter Brandt:
and DTN guys have also called and posted a nice chart of it, here.
What say ya ?