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Darin Newsom DTN Senior Analyst
Sun Jun 22, 2014 07:49 AM CDT

Ag Markets: Weekly Analysis

Corn: The July contract closed 6.25cts higher. Despite the higher weekly close, the secondary (intermediate-term) trend remains down. However, the contract appears to have found support above its previous low of $4.21 3/4. Most of this support came from commercial traders, as indicated by the renewed uptrend in the July to September futures spread and likely tied to the July contract trading into the lower-third of its 5-year price distribution range. Friday's CFTC Commitments of Traders report showed noncommercial traders reducing their net-long futures position by another 9,852 contracts.

New-crop Corn: The December contract closed 4.50cts ...

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