Grain Express

Corn (March)

Fundamentals: Flash-sales from the USDA yesterday morning showed sales of 128,000 metric tons of corn for delivery to Japan during the 2020/2021 marketing year; and sales of 100,000 metric tons of corn for delivery to Israel during the 2020/2021 marketing year. Yesterday’s weekly export inspections report came in at 877,000 metric tons, below the low end of the range.

Technicals: Futures were softer to start the week which has spilled into pressure in the overnight/early morning trade. First support is being breached this morning, 517 ¼-522 ¼. This pocket represents the gap from last Tuesday night. if the Bulls fail to hold ground here when we get more participation on the floo