Realize I'm a little early here and may be jumping the gun for this board, but I had some free time and pulled up a historical corn chart.
Here's what I noticed: leading up to the June WASDE, the market always seems to take on a bullish tone, in 06, 07, 08 and 09, the weeks prior (usually 3-4 weeks) to report were all slightly more positive than the week before. Basically if you buy towards the middle of May you can't go wrong until the release of the June WASDE.
Now this is where it gets interesting. When the report came out in 06, the market deemed it negative and fell 20%, when it came out in 07, positive and rose ~10%, in 08 positive and up ~10%, in 09 negative and kicked off a hell of a bear market rally -30%. These are ballpark numbers, some are a few percent higher or lower depending where you start.
I know we've got the China story going on right now and the historical winds at our backs but where do ya'll think we're heading come June? Will it kick off a rally to 4 dollars and beyond or be a merciless summer?