Grain Express

Corn (December)

Fundamentals: December corn futures finished yesterday little changed as market participants awaited new news on harvest progress. The USDA showed the US corn harvest is 25% complete, this is on pace with historical averages. Good/Excellent conditions were reported at 62%, a 1% improvement from the previous week. Weekly export inspections came in at 854,000 metric tons, within the range of expectations. The USDA announced a sale of 160,020 metric tons to Mexico, this is roughly 6.3 million bushels.

Techncials: The market was little changed yesterday as prices hovered around our pivot pocket, 377 ¼-379 ½. With yesterday’s price action being relatively mute, many of our technical levels remain intact. The Bull camp continues to have the technical advantage so long as the Bulls continu