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NW Indiana | I think most actually placing wagers on market direction would feel a 174-178 yield is probably a good range to start with. The middle of that would leave ending stocks unchanged while most have been anticipating a large increase. The funds have a large short position and short covering can send the market higher regardless of fundamentals. To answer your question I think it would take a yield of 173 or lower to actually get very many excited about taking a long position on the corn market. | |
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Blast off!
