Where would you be looking to buy corn? Could you comment on this limit down business, is this an over reaction? Enjoying the thread.
I'm looking to buy July Corn just above 3.60. (I mistakenly said MAY earlier, sorry!!) Funds were caught long corn into the report. They're being washed out of those positions. I still believe Corn will be $6 sometime soon. All it takes is a weather related incident in the next 6 months.
short bonds is not very effective at these levels. you should play it via short term (ZT/ZF) for the past few days. some ideas here: http://www.elitetrader.com/vb/showthread.php?s=&threadid=86414
Thanks. I follow that thread with great interest. And NOT as a fade!! You guys have very good ideas there. I'm agnostic on the curve although in retrospect I should've anticipated some reversal in the recent steepening.
If you say so I started to build "C N7" before the close - feels like trying to catch a falling knife...