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Kevin Van Trump has over 20 years of experience in the grain and livestock industry.
Corn bulls continue to talk about strong US export demand on the heels of better than expected weekly export inspections. The question being asked by the bears is just how far "strong exports" can carry the trade? The technicians are starting to pay more attention as well, considering the MAR14 contract just posted its highest close since last-October. The bulls are thinking a close in the MAR14 contract above $4.50 could allow for a "short-covering" squeeze and a potential run to the upper-end of the range which I believe is around $4.65 to $4.75. New-crop DEC14 corn has enjoyed a nice run higher as well (About $0.25 cents off the lows set back in early-Jan), now teetering back and forth across it's 100-day Moving Average, and now closing in on our next cash-sale target of $4.65. Producers who have less than 30% sold or hedged in new-crop may want to seriously considering booking some bushels. This price level is profitable for most of the producers we are working with (depending on the basis in your area). Click here for my daily comments....
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