Futures Traders: Get FREE daily videos covering today's hottest market
Twenty-five-year commodity market veteran Jim Prince is an expert in the principles of technical trading. Each day Jim reviews the biggest moves in the commodity markets, identifying formations and planning trading strategies. And now, in his free Daily Alert, Jim will share with you his hot pick of the day with an exclusive 3-5 minute video.
With each Daily Alert video Jim reviews first-hand his featured chart of the day, discusses trading strategy, and highlights possible entry and exit points.
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Corn futures are trading steady to slightly higher this morning after losing 3 3/4 to 4 1/4 cents on Monday, with pressure coming from lower wheat and steady harvest progress. USDA showed slow weekly corn inspections for export were 541,527 MT, down 38.4% from last week, but they were still up 31% vs. the total from the same week a year ago. The weekly NASS crop report last night showed 76% of the crop in the 18 major states had been harvested as of Sunday night. That is up 15 points from a week ago and is 1 point behind the 5yr avg for this week. Chinese DDG imports slowed dramatically in September as the anti-dumping duty on US origin product went into effect. They totaled 272,000 MT, down 71% vs. September 2015.