Boyd Baker PriceCount trade for Corn

Posted Monday March 25th , 2019 at 12:40 pm CDT

Commentary

May Corn initiated new upside PriceCounts with a
close above $3.75 1/2. The 1st upside PriceCount projects a move to $3.85, the 2nd PriceCount target is $3.95 and a possible third PriceCount comes in at $4.11.  Seasonal flooding in NE, IA and IL could potentially reduce Corn acreage or at a minimum delay planting progress.  Prices have been supported on this news and have moved above
the 18 day Moving Average of Closes.  Upside PriceCounts remain in place as long as May Corn can stay above
$3.67 3/4.  Traders can now look to position themselves long. For the specific buy
recommendation please see below.



Trade Recommendations

Buy May Corn at $3.76 or better. Place a sell stop on the position at $3.67 1/2. Cover half the position at $3.85 and then move up the sell stops to break even. Take remaining profits at $3.95.


Boyd Baker

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