Corn managed to close higher for the fifth consecutive session today. Corn continues to find buying interest following lows. There was also an export sales announcement of 240,000 MTs of corn being sold to Mexico this morning. Soybeans also saw modest gains of around 4 cents but did settle well off of the day’s highs, as they were up 16 to 17 cents at one time. The bean market bounced off of talk that Argentina would increase its U.S. soybean purchases to export them to China. Prices later seemed to fade off their highs as active soybean harvest in the U.S. and expectations of a record crop weighed. Funds were estimated net buyers of 9,000 corn contracts and 7,000 bean contracts.
This data and these comments are provided for information purposes only and are not intended to be used for specific trading strategies. Although all information is believed to be reliable, we cannot guarantee its accuracy or completeness. The risk of loss in trading futures and/or options is substantial. Each investor must consider whether this is a suitable investment. When trading futures and/or options, it is possible to lose more than the full value of your account.
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