Corn futures were 3 cents lower to end the week, in what was a pretty uneventful session. Futures have been range bound over the past couple of weeks with the lack of fresh fundamental news leaving moves at a minimum. Beans finished the day 3 cents higher as mid-tweets rallied the board back from early losses. President Trump tweeted today that China wants to “make a deal” and the more tariffs may not be necessary. The markets will continue to watch trade talks between the U.S. and China closely, in hopes that some type of deal is worked out in the near future. Funds ended the day being estimated net sellers of 10,000 corn contracts and buyers of 4,000 bean contracts on the day. Outside markets saw the U.S. Dollar Index weaker, the Dow was up 125 points, and Crude Oil was up 35 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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