Positive news in terms of the commodity markets has been difficult to find over the past couple weeks of trading and today was not much different. Corn finished the day a couple cents lower. News has not changed and fundamentals remain bearish. Weekly export sales numbers on corn were strong this morning but that failed to get any kind of positive price reaction. Beans closed the day 7 to 8 cents lower. Much like corn fresh news has been thin as the trade awaits to see what the March 31st reports will say. Weekly export sales and beans were above expectations, but that was unable to trigger any type of buying. Funds finished the day being estimated net sellers of 6,000 contracts of corn and 7,000 contracts of beans. Outside markets were mainly negative as well, with Crude Oil 35 cents lower at $47.69/bbl, the Dow was down 19 points, and the U.S. Dollar Index was running just below even.
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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