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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: enrico99 who wrote (39031)	10/12/2005 11:15:39 AM
From: mishedlo	Read Replies (2) \| Respond to of 116555

Are you long corn just because of the cheap puts or do you have other reasons to be bullish on corn ? There are reasons to be long corn here. Demand is about neutral and port of NO is opened up and China just came off some sort of holiday (not sure what but I read that somewhere). Chart looks like it might have put in some sort of bottom here and corn is close to historical lows here. However it is essentially a large gain with little risk type of play, carried out over two different months such that any kind of decent rally for any reason between now and May should make the trade profitable. Finally, small specs are hugely short which I think is at least modestly bullish. cftc.gov Mish