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Strategies & Market Trends : Grain Futures Trading

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To: John Pitera who wrote (553)	5/5/1999 11:23:00 PM
From: MJR	Read Replies (2) of 645

I'm not sure what to make of the markets for Dec corn tomorrow. CBOT Proj A trading down 1 1/4 cents .. seems like the rains haven't been as soaking in Illinois/Indiana as anticipated. Today was bright and sunny so my guess is that the planters were rolling pretty good. Crop progress may well be catching up. Several storms going through parts of ILL now.. but I don't think they're dropping huge amounts of rain. Radar to the west is not all bad either. Tomorrow's 0730CT export report will set the tone for the day. I still hold my long corn trade, but have set a fairly tight stop just in case. My guess is that it will trigger early in the session. (In at 233 1/4, stop set at 231) Good luck tomorrow, Mike

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