Crop Report in Alberta

[cottonpicken]

Trends and corrections and that stuff,has a wide
range of opinions based on different theories.

Lots of people think its a bunch of bs,but the goal is
to use technical analysts to make your batting
average better than even,not hit a homer every time.

Checking will probably kick me in the nuts on this
one,but does anyone ever remember the world having
so many balls up in the air at one time?

[errolanderson]

malleefarmer - Soybeans and corn had big
technical damage yesterday. U.S. crop
ratings also edge up and there is talk
that U.S. may increase their planted
acres in October (go figure). Also,
Brazil sees more rain ahead. Bulls are
running out-of-gas.

Yesterday's implosion to me was all
about selling the rumor. QE3 was
positioned. And the market is now saying
. . . now what? There is no more
anticipation of another major market
carrot . . . (unless Bernanke produces a
magic rabbit).

Dec corn major support is now way down
at $6.80/bu, which is great news for the
livestock industry. Personally, quite
bullish cattle heading into 2013, but
the grain rally is 'done' unless these
markets get a jolt of fresh bullish
news.

Errol

[boarderbloke]

Did we just start a new leg up yesterday? or is that just "Hope!"

[errolanderson]

boarderbloke . . . strong bargain-
hunting type buying is created this
rebound today. Also, Bank of Japan
stimulus news is adding a positive tone.

But technical damage is done. And to
repair that, fresh bullish news is
needed, beyond bargain hunting (IMO)

Rain forecasts in Brazil is maintaining
enormous production forecasts in South
America.

With the corn price drop, wheat (IMO) is
ripe for a possible setback. Wheat has
been replacing corn. Now global corn
values are in-decline. Grains are now
trying to find their new trading range.

Major soybean volatility is huge
(possibly $1/bu wide right now). $15.90
to $16.90/bu range. Canola futures wide
ranging as well.

an opinion for what's it's worth . . . .