This is a sample entry from Tom Dosdall’s email newsletter, Dosdall Daily Edge, published on Tuesday, May 31, 2016.
Exit orders at 4.12 should have triggered on Friday for a loss of 0.10.
A shortage of quality Soymeal in the nearby months was driving the feed grain story last week and new crop corn may have gotten an undeserved lift off the back of a frenzy of buying there.
Looking forward to today’s crop progress report and the market is widely expecting the new crop to be near 95% planted and 75% good to excellent condition. In a vacuum I think this news still tilts the scales bearish for corn so we may want to look for a re-entry opportunity at some point. There may also be some sell triggers coming up in soymeal as the market looks extremely overbought.
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