Corn could start to see some firming price action in the coming weeks. Both fundamentals and technical are pointing to higher prices. Fundamentally, we are seeing tightening world ending stocks with Chinese production expected to decline by 12.5 million tonnes. Weather wise, we are expected to have a wet week ahead of us to further delay planting. Managed accounts are holding a massive short position, and if they get squeezed out of the shorts it will only exaggerate the rally. Producers should consider lifting hedges on short futures, while end users should consider establishing a hedge with calls at these low levels. I believe a 10% rally in prices is very realistic and traders should position to take advantage of that. Also, corn has yet to price in a weather premium. With the mild winter we had, I don’t think some 100 degree days in June are unlikely.