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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 at midday are off about 6 cents. The EIA report this morning showed ethanol production was down about 8,000 barrels per day from the previous week to 965,000 for the week ending July 24. That was the slowest weekly production rate reported since the week ending May 15. Stocks were unchanged at 19.6 million barrels, 5.3% larger than a year ago. Preliminary OI dropped 32,820 contracts as both longs and shorts headed to the exits. South Korea bought 68,000 MT of corn for January delivery.