Corn Continues Lower Ahead Of USDA Report

Corn continues lower ahead of USDA report: After all the ethanol hype, Corn futures have come back down to earth, with new-crop December Corn trading near recent lows. Ideal weather conditions in the Midwest this week have large speculators re-thinking their long position, and fund liquidation has been a factor in the recent sell-off. It is estimated that commodity funds might be net-long over 200,000 contracts, and if prices continue to fall, much more of this position could be liquidated, depressing prices further. Trading is expected to be choppy the next few days, as traders fine-tune their positions ahead of Friday's USDA's crop production and supply/demand reports. Read More....