A quiet day on the corn side, squeezing out around a penny in gains. Fresh news in corn was extremely limited in today’s session which made for a mostly steady session, trading in just a 4 cent range. Beans posted solid gains on the day closing 7 cent higher. Strong demand was noted for some of today’s strength along with a little bit of fund buying. Funds ended the session being estimated net buyers of 5,000 corn contracts and 7,000 bean contracts. For the week as a whole corn was relatively steady, with the December contract dropping 1 ¾ cents since last Friday. Soybean made nice gains, with the November contract having gained 20 ½ cents since last Friday. In other markets, the U.S. Dollar Index was 315 points higher, the Dow was off 16 points, and Crude Oil was up 26 cents at $50.89/bbl.
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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