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May Corn Observations

Hi All,
May Corn will most certainly open "limit up" again tonight with new limit of 45. As long as the clock resets at 7pm Eastern and starts a new trading day. I am pretty sure it does.

This will bring the Corn price up to 738.25 which is just below the last High of 742 that held as resistance for several days not long ago.

I could not detect any trading after the run to limit up at 10.30 am this morning. [I.E. It appears no one took any contracts "off the table" as they did last time.

Assuming this opens fresh at 7pm it may go right smack to limit up and stay put.

I'm looking for a shorting opportunity on a pull back.

Will the 742 hold ??? Or do we get another run up higher after ????

BUTTTT, as I write this the bid/ask has just dropped back a little to 433.25 with over 1000 bids/offers in the Q though.

Guess we will just have to wait a little bit and see what develops.


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May Corn Observations