Entered long corn with 1/3 of my position at 327. If the price hits 300 will add another 1/3, and when momentum moves up I will fill the final 1/3 on a medium to long term hold.
Corn is currently extremely oversold, with the current situation being the third most severe sell off. Only 1985 and 1986 had more severe sell offs. I am prepared to hold for a couple of years as oversupply is gradually consumed.
If there is a bounce in the next 6 - 12 months I may take a profit.
I will consider wheat for a long position when it breaks out to the upside of the channel it is in.
