Rumors of large corn and soybean sales to China along with massive fund and commercial buying today rallied the corn and soybean markets. Wheat futures were lower after yesterday’s strong gains. If open interest goes up on this rally, it will show new “inflation buyers” coming in for more commodities.
July corn had a 30 cent trading range and closed 14 cents higher today at $7.57. December corn closed up 11 ½ cents at $7.14….
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