Corn was fractionally lower in the day in a quiet session. Corn attempted to recover some of yesterday’s losses early on but more fund liquidation later in the session put a little bit pf pressure on prices. Fresh news otherwise was pretty limited. Beans were able to bounce back a little bit following yesterday’s sharp losses, closing 5 cents better nearby and 2 cents better on new crop. Argentina’s weekend weather forecasts turning a little drier helped the bean market show some recovery. Funds were estimated net sellers of 5,000 corn contracts and buyers of 9,000 bean contracts on the day. Outside markets saw Crude Oil $1.40/bbl higher, the Dow was up 116 points and the U.S. Dollar Index was up just over 500 points.
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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