The following commentary does not necessarily reflect the views of AgWeb or Farm Journal Media. The opinions expressed below are the author's own.
Grain TV is a daily recap after the market close, providing opinions on fundamental analysis of market direction, influences and expectations. This daily program is produced by Grain Hedge, a discount brokerage firm that provides farmers and elevators with agricultural intelligence including live market quotes, cash bid data, the Grain Hedge Optimizer™ and mobile trading platforms, all for $7 commission per side. Grain Hedge provides tools to allow farmers the ability to trade when the markets move without having to wait for a broker and the information to execute a marketing strategy with confidence.
New crop corn futures closed 27 1/2 cents lower following today's planted acreage report. Planted acreage came in 2 million acres above what the trade was expecting, and 500,000 acres higher than the highest analyst guess. Technical support stopped further losses at $5.11, but funamentally this market is going to have a hard time making ground next week. Tune in for a full analysis of the numbers.
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