John Tuggle: Profit takers were out in abundance today and corn futures were sharply lower, ended the day down 9 cents/bu. A strong U.S. dollar also added negative pressure. Other outside market factors remain mostly neutral. New export corn sales for this past week were right in the middle of trade expectations at 29.369 million bushels. Ethanol margins and demand are solid, even at these elevated price levels. After a rather dramatic rally over the past week, wheat futures finally closed down for the day.
Posted on: Thu, 20 Mar 2014 18:58:54 +0000
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