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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 planking 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.
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Corn futures are currently trading 2 cents lower. The rain makes grain philosophy weighed on corn on Tuesday. The WCB is seeing widespread shower activity again this morning. ND, SD, MN, WI, MI, CO, and PA are all states under 20% dented, and are behind their respective 5yr averages by an average of 11.5 points. There are below normal temps expected in the northern Plains next week, but current forecasts don’t get them down to freezing, allowing the assumption of additional test weight gains. Overnight lows got down to 40 degrees in North Dakota locations with no fog or cloud cover. A Farm Futures magazine survey revealed that US producers still intend to plant over 90 million acres of corn next year.