Corn Finds A Close Above $5.00 October 19, 2023
Corn closing above 5.00 for the first time since August 2nd. Most of the strength coming from funds exiting short positions. Managed money was short close to 110,000 contracts and it seems they are moving to the sidelines here today. Do we see this again tomorrow to finish out the week. We need to remind ourselves that the seasonal peak comes in on October 22nd/23rd.
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