I am not allowed to give trading advice but it would be nice to hear from other traders. How about it guys? What are your thoughts on the corn market?

Corn: you think will retrace or the rally will continue

Rayvos,

You are being overly humble.

I am sure you know your stuff.

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Acts68

There are people, both professional and amateur, who follow successful people and firms, to try to glean some useful information that will help in trading. There are plenty of people commenting on every move of Warren Buffett.

It is important to remember that commercials are always early to the party and early to leave.
You would never use this type of information to time a trade.

It is helpful to know what side of the market the big boys have chosen, though.

This info was found at TPC website I believe.

You can double check the information on the GS website.

How one uses the info is important. Again, no one should attempt to use it to time an entry/exit. Still, if one feels that a large company such as GS is on the bullish side of the market, we can look for bullish setups in Profit source so we can ride their coattails.

Just saw something interesting from an article last week that Saudi Arabia has chosen to drop WTI as the benchmark for pricing its oil resulting in large discount between WTI and Brent. Also, India just bought 200 tonnes of gold with US dollars which, IMHO, may have had something to do with the surge in gold prices. They just got sumttin' for nuttin'. I think China's been doing the same thing but very quietly. I just mentioned this because both of these were mentioned in the post below about commodities that GS is playing. Who knows. Way above my pay grade.

Hi Melvin,

Thanks for posting this. But how reliable is this information? How accessable is it to see the "net" positions of Goldman Sachs trading positions? Where is the information found?

Thanks

HOW GOLDMAN SACHS IS TRADING THE COMMODITY MARKETS
3 November 2009 by TPC 8 Comments
It’s no secret that Goldman Sachs has an enormously profitable trading operation. In the most recent quarter they reported an astounding $10B in total trading and investments. This represented 81% of the firms total revenues. One of the most profitable arms of this trading operation is the commodity desk. Goldman’s commodity calls are often market moving and always noteworthy. Their latest commodity positions reflect the firm’s continued bullish outlook on the economic recovery.

Goldman is very bullish on Natural Gas. Their 3 month price target on Nat Gas is $6.50 while their 12 month target is $7.70. That is a 33% and 57% expected climb.

Goldman likes Summer 2010 NYMEX Natural Gas futures.

In the WTI oil market Goldman has a 3 month target of $85 and a 12 month target of $94. That equals a 9% and 20% rise in oil prices. They see continued demand from China as a primary driver.

Goldman likes a long timespread. They like buying the December 09 WTI and selling the 2011 WTI contract.

In the metals markets Goldman is surprisingly bearish on Gold and Silver. Their 3 month and 12 month price target for gold is $960. Their 3 month target for silver is $15.60 and their 12 month target is $16. This is consistent with their benign inflation expectations. They do not recommend any specific short trades on the two metals at this time. They do, however, like 2010 January Platinum.

In terms of agriculture Goldman likes Corn futures. They currently have a $4 3 month price target and a $4.50 12 month price target.

Goldman likes the May 2010 Corn futures.