April 27, 2023

 Big down day…

and probably just going to get bigger and bigger…

Corn was down 19 cents today, dead on NEW 1 YEAR LOWS, while a zillion analysts...and most importantly, all the farmers who have believed their bullish story...are scratching their heads and wondering, "Why is it down?" The answer: Because all the end users have bought everything they need for the next 3-4 months, meaning a VACUUM OF BUYERS...while 1000’s of farmers are sitting on massive inventories, that sooner or later, they HAVE to sell...And now, as prices fall (surprisingly to them), FARMERS ARE STARTING TO DO JUST THAT...TO SELL…AND WILL LIKELY BE DOING SO, EN MASSE, FOR THE NEXT 2-3 MONTHS. ..The 30-35% freak out is starting guys. GET SHORT NOW.

Down 11 cents here today…And exactly the same case as Corn…Virtually EVERYONE in the ag analyst community has been looking for higher prices…and now they are confused by the weakness and this unexpected (to them and all the farmers who listen to them) drop to almost 10 months lows…Believe me, farmers have lost a dollar per bushel in the past week or so…and they ARE beginning to think, “Maybe I should get some sold.” And the next thing we’ll likely see is them selling more…and more…and more…as Soybeans absolutely crap out.

AND YES, I DO THINK WE’RE HEADED FOR UNDER $11.00…If that sounds nuts to you, think back to last year and Cotton dropping from $1.40 to 70 cents, or Wheat from $14.00 down to $7.00, or Crude from $130 down to $70 (all of which I recommended as MAJOR shorts) or Natural Gas from $8.00 down to $2.00…NONE of those bear markets were “supposed” to happen…but they DID…And though I might be dead,dead wrong, I am 150% of the opinion that the same sort of thing is NOW UNDERWAY IN CORN AND SOYBEANS.

I urge you…Don’t blink…Don’t think “they’ll go right back up again,” DON’T MISS THIS.

Call me.

Thanks,

Bill

770-425-7241

866-578-1001

All option prices in this newsletter include all fees and commissions. All charts, unless otherwise noted, are by Aspen Graphics and CRB.

The author of this piece currently trades for his own account and has a financial interest in the following derivative products mentioned within: Corn, Soybeans