CME Grain Market Commentary - Blue Line Futures

New crop corn futures continued to drift lower following Friday’s USDA report.

December corn futures settle slightly above $5 handle ahead of Monday’s crop progress report. Oliver Sloup has more.

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Jerry Gulke, president of The Gulke Group, says “If you look at the weekly chart it looks pretty bad. We’re a long way away from the highs set the first part of September.”
Craig Turner of StoneX says a close in corn below $4.70 would be negative for the market and open the door to further fund liquidation even though corn is oversold.
Jerry Gulke, president of The Gulke Group, says grain prices need to go low enough to be competitive and stimulate demand.
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