Corn managed to close higher today, even if it was only a penny it was nice to see some green on the board. I looked like oversold conditions offered some support along with good weekly export sales. However, cheap South American export offerings and a firmer dollar seemed to keep the corn market gains very limited. Beans closed 4 cents higher today as well. Much like corn, weekly export sales were also good for beans and the market is oversold somewhat. Other than that there was little fresh news to be traded. Funds were moderate buyers on the day with 18,000 corn contracts and 9,000 bean contracts. Outside markets saw a firmer dollar, the Dow was down over 100, and Crude Oil was down 84 cents.
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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