David Fuller's view John phoned me this afternoon and asked me to convey his apologies to fellow subscribers for being too bullish in Tuesday's video on the stocks reported by the USDA today. I said there was no need to apologise and while Fullermoney posted his views it does not make recommendations. I probably would have bought some corn (weekly & daily) this week, in which case I would have reported it, if the price had been overextended to the downside. Instead, it was somewhat overstretched to the upside as you can see from the charts above and beneath an overhanging top.


Today's sharp fall in US grains and beans helps to reduce food price inflation pressures. It may also set up a buying opportunity later in the year, particularly if there is any problem with the next season's crop which will not be sown until March or April. John thinks the USDA figures are too high and that there will be a shortage of corn for export later this year.