Corn is coiling for a breakout
Six weeks of consolidation is setting up Corn futures for a potential breakout. Supply side issues including downgraded USDA data , an even lower crop estimate from the Pro Framer tour , potential lack of storage and barge backups
all point to a bullish explosion to the up side . On the demand side global "demand destruction" rumors abound , global exports being curtailed and a recession on the horizon?? what of the US Dollar? Will Brent Johnson's milkshake theory be proven correct as the US Dollar becomes the safe haven of last resort as the war in Ukraine escalates and thus keep commodity prices in check......somethings gotta give I think we missed selling the iron condor opportunity so proposing buying a 660/650 put 700/710 call iron condor January 2023 expiration then jumping in more aggressively when price breaks out .
all point to a bullish explosion to the up side . On the demand side global "demand destruction" rumors abound , global exports being curtailed and a recession on the horizon?? what of the US Dollar? Will Brent Johnson's milkshake theory be proven correct as the US Dollar becomes the safe haven of last resort as the war in Ukraine escalates and thus keep commodity prices in check......somethings gotta give I think we missed selling the iron condor opportunity so proposing buying a 660/650 put 700/710 call iron condor January 2023 expiration then jumping in more aggressively when price breaks out .
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