Watch us on RFD-TV, today at 12:45 pm CT! Corn (December)
Fundamentals: Corn futures stalled out yesterday as new sellers seem absent at new contract lows. Yesterday’s weekly ethanol production dropped 27,000 barrels per day, inventories were left unchanged. Net sales of 101,600 MT for 2019/2020 were down noticeably from the previous week and down 70 percent from the prior 4-week average. For 2020/2021, net sales of 2,600,000 MT primarily for China (1,937,000 MT).
Technicals: Corn futures continue to defend our final support pocket, 320-322. Below this is “uncharted territory”, making it awf