Corn sizzles, then fizzles

Corn sizzles, then fizzles

A major buyback by speculative funds drove the recent market action

Speculators axed a massive short position in the corn market within 11 days earlier this month. And what do they have now to show for it? Lower prices. Specs, usually hesitant to become buyers in such an oversupplied market, bought nearly one billion bushels of corn in the form of CBOT futures and options –