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Wednesday, June 14, 2006

Trading In The Rain

Trading in the Rain: Corn futures fell below the $2.40 mark today, extending losses from earlier in the week. Front month July Corn is trading at its lowest level since the beginning of May, which remains the nearest form of support at $2.35 ½ a bushel. Crops are considered in solid condition with weather forecasts for the Midwest calling for increased rainfall in both coverage and amounts. Weakness in the Wheat and technical selling also contributed to the bearish market. Read More....