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Grain Hedge

RSS By: Brock Schimbeno, AgWeb.com

Grain Hedge is a self-directed discount brokerage that saves farmers money when trading in the futures and options market. For $7 commissions per side producers can execute their marketing strategy with authority, any time the markets trade.

C1Z Finding Resistance At 650

Oct 20, 2011

December corn is pushing right up against the 38% retracement of the August 29th high to the October 3rd low. The DEC contract had a strong close today, but was still unable to settle above 650. Another positive day in the market could lead corn to break-out of the consolidation it has been printing for the last week and a half. If a break-out does occur, look for serious resistance around the 675 level. This area was not only an area of choppy trading during July but is at the 50% retracement of September's sell off. To track this contract on your home computer, take a demo of the Firetip platform today!
C1Z 650

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