Folks, I don't have to tell you that corn is not behaving as expected. The action today (and tonight) is quite ugly. I would describe the selling as aggressive liquidation due to a Chinese soybean cancellation, and Fiscal Cliff concerns. Markets hate uncertainty. I am concerned enough to no longer be bullish, but see enough fundamentals (and technicals) to not be bearish. The market can appear hopeless prior to some major bounces. Extreme bearish sentiment is the hallmark of the best rallys. The wheat market also had a bad day. Price is near the 200 SMA, and we will have a buy signal from the CCI oscillator soon. Don't forget, you also have a Crop Insurance floor at $7.28. Any sales made now will remove about .75 risk if you have an 85% policy, but could eliminate a tremendous amount of top side potential. If you are feeling a bit beaten up today, I will post some things over the weekend that should cheer you up.
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