wmeubank@ocp.kcmo.com
BARNES BROKERAGE CO., INC.
30 S. Wacker, Chicago, Illinois
(October 8, 1997) CORN: Even more impressive than soybeans last week was December corn which soared 30¢ to 6-month highs! this included a limit-up yesterday and corn harvest is just getting started (15% complete as of 10- 6).
So what gives? Part of the reason was rumors. China was shutting down corn exports due to supply concerns. Then, today word circulated they would resume if prices got high enough. All we know is that if the market can perform this well during traditionally its weakest time of the year, think what can happen later! And December corn's still under $3.00–just over a year ago it was at $5.50!
If there ever was a “buy signal” for the season, this past week's action was it! Go with this market on 10- 15¢ breaks using put option stops.
William D. Moore
Added to the WWW 10-10-97
Last updated on 10-13-97
Hosted by:
One Crossroads Place
610 West Maple Ave, Suite WWW
Independence, MO 64050
(816) 252-4080
sysop@kcmo.com