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December Corn Futures: CZ blew out of its $3.58 – $3.81 (23 cent) range, a range in effect since July 21– with a vengeance yesterday. Upside technical objectives are junk – we killed it first. Remember the ‘3-Gap’ objective that I talked about awhile back. Now the objective is at $3.31.
Simply put, things are getting really ugly, really fast. The next support emerges at $3.24 1/2, which is the low of the week of June 28, 2010.

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