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Corn futures ended the day 3-5 cents lower. The stronger US dollar drew a lot of attention as it rallied on the strong employment report for February and a weak euro. The assumption is a robust dollar will cause US products to cost more for importers. Traders are generally expecting lower ending stocks for the US but higher corn production figures for South America, with a reduction possible for South Africa due to drought. Some concern is growing about the lack of fall field work in parts of the US, and a foot of snow, such as Ohio received this week, suggesting spring field work may be late rather than early. The CFTC report this afternoon reveals a large reduction of nearly 30,000 contracts in managed money net longs, leaving just over 50,000.
Mar 15 Corn closed at $3.79 1/4, down 3 1/2 cents,