NAPERVILLE — Chicago corn futures last week fell to their lowest levels since late August before recovering again, though speculators were heavy participants on the downside, taking out an unusually large number of bulls for a second straight week.
Although most-active CBOT corn futures were unchanged in the week ended Nov. 15, the contract had traded down more than 2% by Nov. 15 before rallying back late in the session. Corn trading volume was unusually high on that date, and it is now clear that was downside momentum.
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