Markets

Mid-Session Corn Market Report for 8/30/2011

December corn opened 6 1/2 cents lower on the session at 763 1/2 and experienced an early range 762 to 768. Talk of the overbought condition of the market plus weakness in wheat and a strong US dollar helped pressure the market early in the day. A rally in soybeans on a cold weather forecast into later next week helped to support a bounce off of the lows. In addition, further steep declines in crop conditions from key US states was also seen as a factor to help support the market on the break. The market has posted contract highs in 5 of the past 6 sessions so traders believe that part of the lower crop conditions is already priced.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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