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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 finished the day with most contracts in red, but by less than a penny.The December contract posted an 11.75 cent trading range on the day, and had a weekly loss of more than 9 cents.December corn options expired today.Year to date Chinese corn imports are up 5.2% from a year ago despite restrictions on US purchases. Much of the corn has come from Ukraine. This morning, the EPA officially withdrew its proposal to reduce the ethanol mandate, stating that it will delay making a final decision regarding the 2014 mandate until next year.USDA announced 132,000 MT of corn was sold to unknown destinations as reported by private exporters this morning.The weekly Commitment of Traders report from the CFTC showed managed money accounts adding 147 contracts to their net long position, which was reported at 186,954 contracts as of the Tuesday close.