Commentary: It is my thought that corn is at a cross road. The fundamentals are bearish without a change. The Chinese are expected to buy to replenish stocks. This reality is needed sooner rather than later. The US planting is moving at a solid pace. This offers little support. The Ethanol industry is on the brink as well given the shut down. A positive reopening is needed to lend a hand in support. I have looked for positives in the corn, only to be disappointed time and again. The 309 level at present seems important to me or we may see $2 corn sooner than later. There is little else to be said that the market doesn’t already know. Exercise caution.
John J. Walsh
President, Walsh Trading, Inc.
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