wmeubank@ocp.kcmo.com
BARNES BROKERAGE CO., INC.
30 S. Wacker, Chicago, Illinois
(November 5, 1997) CORN: In stark contrast to soybeans stellar performance this week, is December corn which today closed lower for the week, being unable to coat- tail beans 30-cent upside surge. One of its problems seem to be exports which came in at a disappointingly low 21 MB (32-34 exp.) on Monday confirming recent trade fears that steady Chinese corn sales are cutting into demand for U.S. corn.
USDA USDA Nov 10 Est. Oct. Sparks Leslie Corn ? 9.348 9.312 9.325 9.280
Stay with long positions using put option stops under 275 but don't add to them until the market stabilizes. A weekly close under 275 will bode ill for this market.
William D. Moore
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