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 rallied late in the session to close around 2 cents higher on the day, capping a nearly 24 cent (6.73%) gain on the week. The US Dollar index was sharply higher all day, but corn closed higher anyway. Export sales reported this week were the slowest of the marketing year thus far, but accumulated exports as a percent of total projected exports are currently at 15% vs. 9% for this week last year, and the 5 yr average of 13%. In the weekly Commitment of Traders report, managed money accounts added 14,836 contracts to their net long position, bringing them to net long 141,788 contracts.