May Contract Liquidation

The week's trade may not look too exciting on paper. Compared with last Thursday's close this week's trade saw July up 5 1/4 cents and December down by 10 3/4. Considering new contract highs were posted on Tuesday it is still impressive. The later week trade ended on a down note with liquidation in the May contract and USDA confirming a third Chinese corn buy (buy the rumor-sell the fact).

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