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Middle Tennessee | Corn open interest increased Monday, then declined Tuesday and Wednesday. It looks like Tues. and Wed. at least, funds traded in corn shorts for bean and wheat shorts. Tonight's scramble buying in the oil market, the sagging dollar, and planting delays in the Delta were not enough to thrust corn values through the major moving averages until now. If that is to happen this week, it will probably need help from one of, the soybean market (unlikely), the wheat market (less unlikely), or unexpectedly large export sales in the morning. I sold May corn at $3.93, I'm not looking for much, just a small profit toward the end of the week. | |
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crude oil
