Chris Robinson discusses the funds, bean spreads and the key technical levels in corn. The funds are positioned long roughly 50,000 corn, short roughly 50,000 wheat, and short about 20,000 soybean contracts. Currently there is a premium for soybeans as a result of tight supply, and the spread between the September and November contracts has moved from about .15 cents one month ago to about .60 cents currently. This is a playable opportunity if strict risk/reward parameters are observed. The corn charts suggests that $358 is a key level, and if the market breaks that it will likely lead to another leg lower. The soybean chart looks similar, with the recent low of 1038.25 under threat.

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