Dec CORN hit new contract highs once again and has 'technically' broken out over a double top of 720 being the June highs. These breakouts like all breakouts are often nothing more than short covering along with weak dumb money chasing price. Price like previous breakouts MUST clear the breakout point and rally hard with conviction to clear these shorts and weak longs out of the way to confirm strength of trend. Only then would the breakout be valid and buyable on a typical retracement back to the breakout point. Until then this breakout doesn't mean squat to me and could easily collapse much like the last one.