If CORN Gaps
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Started by tjc - May 19, 2019, 7:30 p.m.

  Should be higher open.

  Let say 386 low.

343 to 385 is 42     Add 42 to 386 = 428 objective

Others would say LEAD corn 335 to 385 is 50

50 plus 386 is 436 objective

ANY thoughts?


Comments
By mcfarm - May 19, 2019, 7:39 p.m.
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yes read that 430 number numerous times today....if you look out my window only corn would lock limit up on the open but the early calls are for only a few cents

By metmike - May 19, 2019, 8:20 p.m.
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That's all possible if the weather stays extremely wet and with funds still having massive shorts, providing some powerful buying fuel.


I'll just add the comments from the other thread that I started:

                Grains open May 19, 2019            

            

++++++++++++++++++++++++

                Started by metmike - May 19, 2019, 7:49 p.m.            

                                        

Higher open(especially corn) because of too much rain in the forecast, especially in the Western Cornbelt.which surprisingly, has almost no change since Friday.........except to add a couple more days to the wet forecast and get 2 days closer to the excessive rains coming up this week. 

Maybe a small gap higher, above Friday's high of 384.75.

                    +++++++++++++++++++


            

                                 

                Re: Grains open May 19, 2019            

            


I think corn GAPS 

 (please switch my corn post from NTR to Trading--ty)

                                +++++++++++++++++++++++++++    


                                  

                Re: Re: Grains open May 19, 2019            

            


                By metmike - May 19, 2019, 8:03 p.m.            

            

We got the small gap higher at 386, low of 385.75, so a 1c gap higher above Friday's high. 


CZ opened at $4 which was Friday's high, so no gap higher there but it's at $401 and finally above $4.


The weather is pretty bullish here but also stale bullish news and we've gone 41c in less than a week on this news, so its always possible to see a spike lower or, with the heat ridge breaking down in week 2 on most models, the market might start trading drier weather ahead and this was an exhaustion gap higher but only if the market trades lower.

By tjc - May 19, 2019, 8:53 p.m.
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McFarm, you and I will wake up at 3 am and check computer to see if gap has held!!

Very encouraging that new high on the night has been made.  

When will funds blink??

If we get the rain forecasted for Thursday morning, that would probably mean May 30 at earliest for planting here in LaSalle County, Illinois.

By metmike - May 19, 2019, 9:05 p.m.
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Looks like only 3 things can fill the gap now.

1. Weather models completely changing overnight and turn much drier(seems unlikely at the moment)

2. If we aren't something like 10c higher overnight, funds could try to spike it lower on the day session open(seems unlikely)

3. Some sort of mega bearish China news causes a brief spike lower(unlikely and we would come right back).


By silverspiker - May 19, 2019, 10:14 p.m.
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4-20

By silverspiker - May 19, 2019, 10:17 p.m.
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........ the algorithmic programs never contemplate weather ....

.......that is the  yale/ harvard/new chaos theory.....

.... lmfao

By silverspiker - May 19, 2019, 10:22 p.m.
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.... hello

.... hello

    .....pppfffftttttttt

       ..... ppppffffttttttt

.... follow by my side

By metmike - May 20, 2019, 12:31 p.m.
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corn held the gap after some weakness around 10am. We will be trading the planting number(along with the very wet forecast)

If the planting number at 3pm is much lower or much higher than market expectations, the open at 7pm will be much higher or much lower than the close this afternoon............regardless of the weather forecast(unless it would monumentally change)


Any guesses/estimates on the planting number this afternoon?

I'll try to get one.

By metmike - May 20, 2019, 12:34 p.m.
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      Arlan Suderman@ArlanFF101                  34m34 minutes ago              

                                       

Trade is expecting 50% of the corn, 22% of the soybeans and 63% of the spring wheat to be planted in this afternoon's USDA progress report. I submitted 54% #corn, 21% #soybeans & 62% spring #wheat based on talking to our offices. #oatt

By metmike - May 20, 2019, 12:39 p.m.
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      Karen Braun‏Verified account @kannbwx                  21m21 minutes ago              

  

  

                                     

Table: Crop Progress Expectations 5 yr planting averages, May 19: #Corn 80%, #soybeans 47%, spring #wheat 80%. Slowest-ever May 19: corn 50% 1995; soy 12% 1983 Slowest May 19 post-2000: corn 68% 2009; soy 24% 2013#plant19