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Jim Prince, 25-year commodity market veteran, just posted a 3+ minute video about a recent move in the commodity markets. Watch it now, and he'll send you a free companion PDF and an email reminder every time he posts a new Daily Alert video.
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Corn futures are trading steady to slightly lower this morning after fractionally higher action on Wednesday. Trade estimates for the USDA weekly export sales report on Thursday morning are 650,000 to 900,000 MT. USDA put the actual net export sales at 685,900 MT. Ethanol stocks in the weekly EIA report increased by 200,000 barrels from last week while production was down 8000 bpd. Fourth quarter US corn use was record large at 2.62 bbu, but carryover is comfortable with a record new crop expected. Broker FC Stone raised projected US corn yield to 178.4 bushels per acre and production at 14.958 billion bushels.