转贴ZH: Corn Price Plunges: Sellers outnumber Buyers 2000 to 1# Stock
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Corn Price Plunges To Lowest Since July 1, Hits Revised Daily Limit As
Sellers Outnumber Buyers By 2000 To 1
Submitted by Tyler Durden on 09/30/2011 - 12:01
Back in April, when we first discussed the hike in daily corn trading limits
from $0.30 to $0.40, we had some cynical observations, namely that "
inviting not only more vol (read bottom line for the business) but more
margin, the CME is exposing speculators to far greater impacts from margin
hikes (and drops). Which of course means a far great capacity and ability to
kill any commodity rally dead in its tracks." Well, there is no margin hike
today (yet), although based on today's action we fully expect one. The
reason, we are currently at today's down 40 cent limit, a price of $5.925 a
bushel, the lowest since July 1, and by the looks of things it will get far
worse: as the chart below demonstrates right now sellers outnumber buyers by
a ratio of 2000 to 1. Expect this ratio to get even bigger once the CME
hikes corn (and who knows what other commodity) margins as soon as today.
Sellers Outnumber Buyers By 2000 To 1
Submitted by Tyler Durden on 09/30/2011 - 12:01
Back in April, when we first discussed the hike in daily corn trading limits
from $0.30 to $0.40, we had some cynical observations, namely that "
inviting not only more vol (read bottom line for the business) but more
margin, the CME is exposing speculators to far greater impacts from margin
hikes (and drops). Which of course means a far great capacity and ability to
kill any commodity rally dead in its tracks." Well, there is no margin hike
today (yet), although based on today's action we fully expect one. The
reason, we are currently at today's down 40 cent limit, a price of $5.925 a
bushel, the lowest since July 1, and by the looks of things it will get far
worse: as the chart below demonstrates right now sellers outnumber buyers by
a ratio of 2000 to 1. Expect this ratio to get even bigger once the CME
hikes corn (and who knows what other commodity) margins as soon as today.