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Sell the Corn Rally?

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  • Description

    Adam Mesh Trading Group chief strategist Todd Horowitz weighs in on corn prices.

  • Duration 2:28
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And of the month.

Corn -- -- -- -- India Aussie USDA.

Reported at unexpected drop in non -- and supply.

What's that doing the prices Sanderson at Intel IDC -- It's the CMA in today's train hasten.

-- take time unpaid -- and you guys are coming down to the floor of the Chicago American -- -- at a very opportune time I should say Chicago Board of Trade CM -- the merged exchanges tiger were unaware of its without -- -- group.

And ask you talked it's hot here I want actually if you can't -- -- -- chicken corn -- a little bit behind me because this is where the action that right now corn prices eliminate.

I would say if you -- the stock market that.

Crazy that's happening right now.

That's right well -- up -- up because we had some bullish news this morning.

And they're caught everybody will be short you know we've got a tremendous sell off.

To -- August highs may fifteenth we broke all the Don hello seven's.

So now we're getting a spring Beck rally some of the funds are taking some profits on the -- got quite short what does this mean for food prices mean we're looking at corn inventories and an eight year low this.

His work.

You know it's gonna raise prices but more the fear and the panic raises prices the actual amount of pride that goes into.

Boxes cereal or whatever use -- -- for misery minimal.

So it's gonna create a little history at the checkout line but really the real actual price is not that big -- were not -- -- alignment should not create a dramatic price.

I know we've also got a couple of the big agricultural stocks like Caterpillar and the Dow -- -- these stocks that move on days like today.

The big questions -- isn't as we have seen prices come off the those record highs here we are at a rally at their rallies common back and what do you do today as attorney.

What today in -- to do nothing -- elect limits so you don't Hillary -- a -- -- but I am looking.

This is a big -- and I wanna look to short this market economic news on the said the action is Monday and Tuesday.

And once we come -- a limit.

Then I'm gonna look for a good level to sell -- -- corn probably 775 to 780 levels are great spot to get short.

All right that's not normally it's at a masterpieces to sell this rally once you can be -- -- into how it is still locked.

Limit up -- dramatic day down here on the floor and I remind everybody at 1015 years ago corn prices work to -- 250 a bushel.

Corn -- eat.

Dollars a bushel it's really crazy time for these market and it's kind of idea we admire your enthusiasm brought commodities and just say that -- in Chicago this -- Today look at -- hear that please go nuts I tell.

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