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Mascoutah, Illinois | Corn traded very well on Thursday in my opinion. If the CBOT would have been open another 60-90 minutes, corn would have been up for the day. The euro continued to gain momentum and the dollar weakened as the trading day pressed into the afternoon hours. We closed at $3.72 in the March contract and the $3.85 gap is 13 cents away. We are up in overnight trading in corn just as I expected us to be. I am of the opinion the traders will try and push March corn to the $3.85 gap today. It is the last day of the trading month and corn has performed well and I believe traders want to own it. Historically, the second week of March and the fourth week of March are the best times to sell grain. However, if we hit the $3.83-$3.85 area in March I am definitely a seller. That gap is a monster at $3.85 and higher. I will be watching corn like a "hawk" today with the phone in hand.
Edited by djmcountryboy 2/26/2010 06:04
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Can corn rally .05 for a new week high friday?
