11/10/2005

December Corn (CBOT:C5Z) set a new low declining under its own

weight. USDA reported that the this year's crop is the second largest in

US history (11.032 billion bushels up from 10.857 billion in October and

higher than many traders estimated (around 10.965 billion bushels).

The USDA also raised corn ending stocks to 114.2 million tons, from
111.9 million which is bearish for the price of corn.

P.S.  I wonder how close are we to the extreme low in corn?  My guess

is that at least until the December contract expiration.  But again, I can't

tell the future and anything may happen; for example a weather related

disaster in a major corn producing region (North America, South America,

Eastern Europe) may do the job.

This is not a trade recommendation and no one should treat it as such.

Commitment of Traders Report: Corn