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There were 186,000 May contracts;
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that's only two months away--March, April, May.
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Almost all of the open interest is in the short contracts.
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Now, if you drive through the country and turn on the radio,
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you will hear at regular intervals--
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the announcer will tell you what corn is doing.
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They say, corn at the latest trading
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is up to $2.18 a bushel.
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What price is that guy quoting?
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It's always going to be the futures price.
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You might say,
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well that's two months in the future--March, April, May--