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 planking 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 currently trading steady to slightly higher. Prices are still mired in the trading range begun in July. Trading interest was very thin on Friday and again last night, with many extending the Labor Day weekend as long as possible. The IGC raised its projected global corn production another 4 MMT, to 973 MMT. That compares to 982 MMT a year ago. There were zero deliveries vs. September futures, with only 7 contracts worth of grain registered. The oldest long has been waiting since 3/3/14. The USDA export inspections numbers were delayed from Monday by the holiday and will be released this morning.