Corn was 3 to 4 cents lower again today and lost around 7 cents for the week as a whole. Beans fell 7 cents in today’s trade and lost 10 cents on the week as a whole. The markets reversed a fair amount this week following Monday’s short covering rally. Improved harvest weather has weight on prices, along with poor weekly export business. The trade issues with China have remained the same and fresh news on that front has been absent this week. Funds were net sellers on the day with an estimated 9,000 corn contracts and 7,000 bean contracts.
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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