Futures Traders: Get FREE daily videos covering today's hottest market
Twenty-five-year commodity market veteran Jim Prince is an expert in the principles of technical trading. Each day Jim reviews the biggest moves in the commodity markets, identifying formations and planning trading strategies. And now, in his free Daily Alert, Jim will share with you his hot pick of the day with an exclusive 3-5 minute video.
With each Daily Alert video Jim reviews first-hand his featured chart of the day, discusses trading strategy, and highlights possible entry and exit points.
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Corn futures closed 1 1/2 to 3 1/2 cents higher today. Old crop export sales in the weekly USDA report were 1.382 MMT, and new crop sales were 246,200 MT, putting the total on the upper end of trade ideas. USDA also reported sales of 253,000 MT of corn to Taiwan and unknown destinations under the daily reporting system today. The solid export demand, higher wheat futures and strong DDG values all supported the corn. The International Grains Council (IGC) increased projected world corn production 5 MMT to 1.003 BILLION metric tonnes.