The enclosed chart on December Corn shows a dramatic short covering rally today of almost limit up on some weather forecasts for frost next week that could possibly do considerable damage to the crop if it is severe enough. Producers should cover at least 10 to 15% of their short hedges right now as I am getting a bullish cross on the directional movement indicator. Speculators should wait until tomorrow on a possible buy recommendation.

Sep. 15, 2009
David Hall

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