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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 mostly a couple cents lower this morning. They settled Friday 1/4 to 1 1/4 cents lower. The December contract lost a half a cent for the week. The Dec17-Dec16 spread is about 4.5 cents narrower than it was in early Sept. The Chinese anti-dumping effort aimed at US DDGs pressured the market a little late last week as it potentially leaves more tonnage to be fed domestically. Yield reports for new crop are variable as harvest activity broadens. The Friday data from the CFTC showed managed money accounts increasing their net short position in corn futures and options by a net -14,652 contracts in the week ending 9/20.