by, 3rd-June-2016 at 08:36 PM (682 Views)
The USDA’s latest Crop Progress report showed Corn was in a pretty good shape in the USA, but despite this the price of corn hasn't faltered, which indicates strength in the market.
Flooding in Argentina and dry conditions in Brazil impacted South Americas corn crop, putting increased pressure on the U.S. crop; therefore, the health of the upcoming corn crop, stateside, is imperative for corn prices. If bad weather hits the U.S. corn belt more upside could be experienced.
CoT last week showed large speculators and managed money were increasing long side.
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