Friday offered a surprising report for corn seeing that funds had covered 89K shorts in just one week. While that still leaves funds short 131K it was quite a bit more active than expected. A knee-jerk reaction to that news is to lose some support as other speculators ease up on buying ahead of the funds. It's a simple idea that buying ahead of the funds when they are record short can offer a large potential for fund help to your buy order.
After Friday saw a late session correction, some spill over correction was seen Monday as well. March is now the lead contract and today's correction came within three cents of contract lows before finding better support.