Corn lacks price direction. Sidelines is best for now. I would say the high price is justified from the drought. Yield went from 166 to 123. Huge drop there. Look for prices to stay steady between 780-825 for the short term. If ANY buying occurs then I could get back in. I wouldnt look to fade this play with puts or going short until the beginning of 2013 when news about how many corn acres will be planted next year..... Could be 100 million.