Not much action in the corn market again today, trading both sides of even and closing fractionally lower nearby and around a penny lower in the deferreds. A sharply lower bean market seemed to weigh a little bit on corn through the day but yield report running lower than the previous two years did keep losses minimal. Beans saw a rough session closing down 21 cents. Rain has been reduced somewhat in the weather forecasts for the corn-belt which pressured prices as this will allow for better harvest progress to be made. Early yield reports on bean continue to be very good as well which also dragged the market down. For the week as a whole corn was mostly unchanged as the December contract lost just a ½ cents. Beans saw moderate losses since last Friday, giving back 11 cents on the November contract. Funds were even in corn on the day while they were estimated net sellers of 9,000 contracts of beans. Outside the commodity markets, Crude Oil had well over a dollar in losses putting it at $44.69/bbl, the Dow was off 128 points, and the U.S. Dollar Index had short gains of 96 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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