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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 are mostly 3 to 4 1/4 cents lower at midday. The Pro Farmer group estimated the US crop at 14.728 billion bushels on a 170.2 bpa national average yield. This used input from the PFA tour last week but the state estimates are different than the Tour estimates (as they should be). They (PFA) have been below the final USDA production figure in 11 of the past 14 years according to one brokerage firm analyst. Weekly export inspections were 1.422 MMT, which was up 11.15% from vs. the previous week and about 42.2% larger than the same week last year. Managed money accounts showed a smaller net short position than the previous week after they were shown adding both long and short positions during the week ending last Tuesday; reporting 177,950 longs and 331,892 shorts.