RJO FuturesCast

Daily Futures Market News, Commentary, & Insight

March Corn finished up 5 at 374 1/2, 1 off the high and 6 up from the low. May Corn closed up 4 3/4 at 382. This was 6 up from the low and 3/4 off the high.

March corn traded to a weekly high of 375 1/2 with follow through buying from yesterday’s supportive USDA report. South Korea is tendering for 210,000 tonnes of corn today. Support from crude oil and copper as a risk on attitude was noted in most commodities today. Cash sources did note a significant increase in producer selling on the rally today. December corn closed at 399 1/4 the highest settlement since June 22nd of last year. The managed money category increased their net longs by 25,372 contracts last week.

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