Corn saw a two-sided trade session that ultimately ended fractionally lower. Midwest forecasts look mostly favorable for the weekend which should allow for good planting progress to be made in many areas. Monday’s planting progress report is expected to show U.S. corn between 16% and 18% complete. Beans closed the day with moderate gains of 4 to 5 cents. Talks of exports interest from China for U.S. bean offered support along with a new export sale of 146,000 MTs of old crop beans to an Unknown destination. Funds were estimated net sellers of 12,000 corn contracts and buyers of 8,000 bean contracts on the day. Outside the grains, Crude Oil was over a dollar lower pushing it back below the $50/bbl mark, the Dow was down a short 10 points, and the U.S. Dollar Index was holding small gains.
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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