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South Central Iowa | Somewhat related; notice how there are no shorts chasing corn down when it backs off a couple pennies?
It could change and they could view this as a rejection of $3.75 and $4.00. But for now, it appears as this is being viewed as an area of accumulation. If that's the case, it would point to higher prices in the near-term. Not necessarily in late March or April, but for now, I see it grinding against an area of major resistance and not surrendering ground. | |
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Drop it a Tick or 2 ?
