May 2012 corn futures have traded in a range of about $1.00
per bushel since last fall. Since late January, the trading range has been
about $.40 per bushel and the current price is near the top of that range. The
narrowing of the trading range for old-crop corn prices may point to a breakout
from the long standing sideways trend. The central question for the direction
of old-crop prices is whether consumption has slowed enough to ensure a minimum
level of year ending stocks. <Read More>
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