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.
Enter your e-mail below to view the latest Daily Alert and receive a complimentary PDF on Cycle Trading techniques to find the right conditions for entering the market.
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.