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Corn rally impressive, but is it overdone?

Agriculture.com Staff 09/27/2006 @ 8:56am

December corn futures at the Chicago Board of Trade on Tuesday surged to a fresh six-week high of $2.60 a bushel. In two weeks' time the corn market has rallied by around 25 cents. The bulls have been impressive, given the price gains have been achieved during the onset of U.S. harvest, when seasonal factors for corn do suggest weaker price action into the month of October.

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December corn futures at the Chicago Board of Trade on Tuesday surged to a fresh six-week high of $2.60 a bushel. In two weeks' time the corn market has rallied by around 25 cents. The bulls have been impressive, given the price gains have been achieved during the onset of U.S. harvest, when seasonal factors for corn do suggest weaker price action into the month of October.

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