I Remain Bullish Corn Prices

Corn Futures---Corn futures in the December contract settled last Friday in Chicago at 4.06 a bushel while currently settling at 4.02 down slightly for the trading week as I have been recommending a bullish position from the 3.96 level as volatility certainly has expanded as prices traded as low as 3.88 in yesterday's trading session, and if you took the trade stay long & continue to place the stop loss under the contract low of 3.75.

Prices are still trading above their 20 and 100 day moving average riding the coattails of the wheat market which I am bullish as wheat prices continue to move higher as the Dakotas are having major problems sending wheat prices higher on a daily basis as I will not raise the stop loss for another week so your going to have to accept the monetary risk at this time.

The Chicago land area has rained for 4 straight days helping alleviate crop stress, however rains have been scattered as southern Illinois still remains dry and many other parts of the Midwest still remain dry as this is going to be a long growing season so stay long & continue to place the proper stop loss as I remain bullish.TREND: HIGHER –CHART STRUCTURE: EXCELLENT

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