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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 closed mostly with gains of six cents or more.Export sales came in toward the higher end of expectations at 1,031,200 MT.USDA also reported strong weekly sorghum export sales and export shipments to China. The weekly data from the EIA on ethanol was bullish for corn use with lower stocks and increased production.Slow harvest progress was confirmed by the USDA earlier in the week, and news of high moisture levels causing issues across much of the Corn Belt surfaced as the week unfolded.The bull has had something to eat every day this week, helping the front month add more than a dime since Friday.