Corn

Yesterdays first look at the quality  of Corn emerging  was a dissapointment.Traders  expected the Number to  come in near the  5  year average of 72%  it was  reported at 65 % good /Excellent.Too much rain  and cold weather in parts of Indiana and Illinois the areas of concern.Corn +36 ticks (+9 cents) as short covering has been trigegred.July corn possible breakout of sideways range at 380  currently trading 375’6.Dec. Corn breakout at 395’6  currently trading 394.Corn already at 1.5 ATR as activity and volume are brisk.if this lower quality of corn persists it could turn into a big deal  but for now  just some short covering as shorts maybe a touch nervous.

 

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.