Fundamentals: May corn futures managed to grind higher on the back of a friendly outside market and a DeJa’Vu USDA report that was unchanged from the previous month. The March 31st report will undoubtably be the big report of the month, this will cover quarterly stocks and prospective planting numbers. Outside market money flow will continue to be a focal point for the broader commodity space.
Technicals: The market managed to work higher yesterday but is now retreating to our pivot point, 373 ¼-375. The bulls must defend this on a closing basis, a failure to do so could open the door for new contract lows......click this link for the FULL report! or email Oliver@BlueLineFutures.com