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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 1 to 2 cents lower, after being 1/2 to 1 1/2 cents higher earlier this morning. The weekly USDA report this morning showed that 1.307 MMT of US corn was inspected for export during the week ending July 21. This was down 1.6% from the previous week, but nearly 18% larger than the same week in 2015. Marketing year to date inspections are now just 2.8% behind last year. The weekly USDA Crop Progress report will be published this afternoon at 3 PM CDT. On average, trade analysts are looking for corn conditions to be slightly lower from last week. The Brazilian safrinha harvest is halfway done. Managed money held a net short CFTC position of 13,362 contracts as of the close on July 19.