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 are trading mostly a couple cents lower this morning. 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. They have also been buying US grain sorghum. The Friday night Cattle on Feed report showed heavier than expected October placements, resulting in larger November On Feed numbers and an expectation for slightly more corn consumption. 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.