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ZC ~ Monthly
I've been sharing this corn futures chart all year. My opinion hasn't changed. Markets are driven by humans, who happen to be emotional and habitual. I believe we are repeating the 2014 market. At that time, we were coming off a few years of euphoric rallies. The initial retreat bounced early in the year, rallied a dollar, then proceeded to decline to the long-term trendline. Thus far, we are simply replaying the pattern. If it continues, as I believe it will, $3.50/$3.60 is likely in old crop pricing.