December 2022 Corn

December 22 Corn - Weekly: From 2014-2020 Corn traded within a more definable market structure. 3.00-4.50(ish). During this time I would run previous years High to Low retracements and place initial targets at retracements under 100% and hope to fill targets up to 127%. We are currently in the beginning stages of developing a new market structure where upside potential and downside risk is unmeasurable. Friday we hit the 5.63 target and now within a day’s move to catch the Primary target at 5.78. At 5.50-5.78 I think it is wise to be 10%-25% sold. **Price before Time** Look at adding Shor Dated (May-July)puts to protect elevated break evens.
Support is 4.80-4.62. Risk below is wide open below