Good Morning !
The December Corn gave up the gains of yesterdays open outcry session.As I write were down 4 3/4 cents at 377 1/2. The range is 381 3/4 to 376. Good weather forecast have traders scratching their heads if a harvest pressure break is in the making. We have a delayed harvest and yield that far underscores what was anticipated. This coupled with a continued depreciation in the U.S. Dollar can only continue to have the bulls and bears fight. On the Energy Front we remain range bound and continue to watch Geo-Political factors and the U.S. Dollar. The Dollar is trading higher as I write. I have a novel approach to this trading factor of diminishing free-trade and importing from OPEC.
We have the product right here and let's put the infrastructure in place so we don't have to import oil period. Just an idea. With all the stimulus money being spent this could be a reality.
Have a Great Trading Day !