Wednesday, April 30, 2008

Agora's Kevin Kerr still likes corn in '08

From Agora's 5 Min Forecast - Kerr sees corn north of $7 in '08. I know, yet another post about plantings behind schedule.

Also worth noting - as long as I've been following Kerr (~3 years), his calls on corn prices have been spot-on.

Corn futures, on the other hand, are still on the rise. Now over $6 a bushel, corn is just a breath away from passing its record high from a few weeks ago.

Corn’s trip to $6 comes on the heels of the latest USDA planting progress report. According to the government, U.S. corn farmers have planted 10% of their 2008 corn crop as of this week… far behind the five-year average of 35% and trade estimates of 15-19%.

Kevin Kerr left the Midwest with the impression the median price for corn in 2008 would be $7.50… a buck fifty higher than today.


Heem said...

Did you sell out of your rice position?

Lean Hogs have been in an up trend since the first of the month. If the contract pull under 73 I think it could be a good spot to go long. Bullish fundamentals are based lessening hog imports from canada and higher exports to asia.

SugarHigh said...

I did, I got stopped out at around 23.45, just below my 23.50 stop.

I also had a fortunate accident - my trading account did not show the cover, so I sold again, and ended up with a short position. This didn't show up until yesterday morning - but I was lucky enough to be short during the big drop yesterday, and I covered the short at night during the Asia session.

It's better to be lucky than good, I guess.

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