Wednesday, May 22, 2013

Corn 5/22

Didn't take profits after the progress report and exited today for an 8 cent loss on the trade... Bought (1) Sept 550 Put for 30.3 cents at 558 just before the pop to 560 at 11:05...
Looking for 560 to hold as resistance, however the ethanol report came out and were bullish... more production less inventory... that would explain the 16 cent pop in corn today... I guess I should have seen that coming...

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