Corn, soybeans, wheat watch funds, while planting looks strong
Corn: For most of the day on Monday, the corn market was quiet to slightly higher right up until the close. Looking back to last week, we see that funds exited 44,000 long corn contracts, which was likely end of month selling. Buying that was seen on the close certainly looks like smaller speculators buying before funds are expected to buy back in on Tuesday. Volume today was nearly half that seen on Friday which shows that this was smaller speculative buying. This buying will expect to find funds here Tuesday, so whether or not they are here will determine if these gains are held through the week.
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Wednesday, May 2, 2012
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