December corn futures continue to retreat in the early morning trade despite another drop in crop conditions. Prices are now testing our 4-star support pocket, 571-576. If you’ve been short the market, this may be a spot to consider reducing some of that exposure or hedging the upside. If you are Bullish and had the patience to wait for a pullback, this may be a short-term buying opportunity. For the last week or two we’ve been urging producers to consider using options to protect the downside. That bias remains intact.
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