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Northern Illinois | We may very well be heading to $8 corn but.....While many believe that our corn yield will be south of 140 I don't think many people in the trade believed that USDA would post a number under 150 in this report. So a 146 has to be a shock to the thinking of traders. So the question that needs to be asked at 7:49 is why are the markets still trading? I would have thought that a 146 would have put us limit up. As I said we may be heading to $8 but how the market reacts to this report is as important as what the numbers are. A lower close today should make all us BULLS sit up and wonder. I think the thing to do today is if you are long the board move your stops up just in case and if you were considering buying puts today may be a good day to get some of them purchased. I don't have many bu sold but may consider offering some in at $7 out of the field. | |
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Buy Puts Today???
