Commentary: The corn rebounded nicely today. The corn has shown a strong correlation to the crude. There still remains some concerns given the ethanol slowdown. In addition the lack of use given the global shut down. However, if the crude shows some strength, then the corn may well have set a double bottom in. This could allow for a stabilization to see what happens with the SA crop, also the US planting. The Chinese are thought to need to make some corn related purchases. There are two big questions here – Demand and Acreage.
John J. Walsh
President, Walsh Trading, Inc.
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