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Kevin Van Trump has over 20 years of experience in the grain and livestock industry.
Corn bulls are hoping strong demand, additional short-covering and talk of new purchasers coming back to the US (South Korea, Japan, etc…) can provide some renewed strength. The latest USDA export numbers support what many had been hoping over the last few months, that the US could be a low cost provider and see demand pick up. Corn sales were reported yesterday at 827,100 tons for 13/14 and another 45,200 tons for 14/15. This was substantially higher than what the trade was looking for and once again excited the corn bulls. The market closed above the $4.30 mark for two consecutive days, which was a line in the sand that needed to be maintained, and could be the momentum that the corn market needed to push back higher towards that $4.50 mark. We dont have many trading days left this year so any short-covering and demand increases could provide some upside fuel for corn prices. Click here for my daily grain report...
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