Indicators in general are deteriorating fast, if DXY keeps strengthening AG commodities may plunge along with oil.
Adding position at a wave 2 retracement demands a stop-loss at levels around the beginning of wave 1. If you want to be more conservative and play on the safe-side the best thing to do is to add longs as soon prices break wave 1 (as you can see on the attached chart).
I am holding long as part of a long-term strategy. I usually recommend selling at the end of wave 5 and going short or neutral for possible abc retracement.
At this point, I have only a “safe” stop at the 320’s but will probably start build my short position if I get stopped. I just think it is too early for that. See the weekly chart here attached. I am still under the impression that what we are seeing is an ABC correction of a large downward impulse, but I could be wrong. This when good money management comes into play. I could not sleep without my stops.
Your long-term view for corn is very possible, especially when we have USD up and oil down on the proportion we are currently seeing. As I have been saying, AG commodities will not hold under this scenario.