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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 were unable to sustain early gains and closed 1/2 to 1 1/4 lower in “buy the rumor, sell the fact” action following a bullish weekly export sales report. USDA this morning reported that sales for the week totaled 1.4349 MMT, but old crop sales were disappointing @ 291,500 MT. The NWS 8-14 day forecast continues the much below normal temps for the Corn Belt through at least August 7. That is great for pollination, but if this keeps up you are going to need a lot of propane or NG this fall.
Sep 14 Corn closed at $3.61 1/2, down 1 cent,
Dec 14 Corn closed at $3.69 1/2, down 1 1/4 cents,