
The late plunge was due to "more liquidation, maybe even new shorts at the start of the month." Prices had been several cents higher with less than a half-hour left in the session. "You had your bounce on oversold conditions," a trader said. "But
big-picture, nothing has changed."Weather was another bearish factor, as forecast lacks any significant frost threat, analysts said. The crop is all but free from concerns that a frost would decimate a late-planted crop, analysts said.
Prices were higher for much of the day in a "relief rally" based on ideas the
market was oversold. A trader said a "wall of worry" about end-of-quarter selling was out of the way now that September was over.
"The market has taken a tremendous beating, and now it's trying to find its legs," said John Kleist, broker/analyst with Allendale in McHenry, Ill
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Thursday, October 2, 2008
Corn Review :
Posted by " Be A Smart Trader " at 10:53 AM

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