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Corn Update


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Commentary: The corn was a bit of an inversion to beans today. The old crop stocks were 2098 bil bu. Smaller than anticipated.

While the new crop was estimated at 3318 bil bu. The old crop offered supporttoday with the market trading up 5 cents. The funds are (approx) short 200 t bu. This coupled with the fact the Chinese have been buyers of corn gave the market the incentive to rally. The question now is will the funds be quick to limit exposure and exit positions or play defense. This can be a difficult time of year for shorts. Also, will the Chinese continue purchases of corn and for what time frame. The President has made it clear he does not support a renegotiation in the agreements recently signed. With respect to the new crop, The USDA assumes a 11 bu to the acre increase as well as 8 million additional acres. Both of which remain to be realized. While lofty aspirations are often met, many times they are not.

Trade Suggestion(s)
NA today
Risk/Reward
Futures-
Options -

BE WELL,
John J. Walsh
President, Walsh Trading, Inc.
800-993-5449
312-208-8836
jwalsh@walshtrading.com
www.walshtrading.com

Walsh Trading, Inc. is registered as a Guaranteed Introducing Broker with the Commodity Futures Trading Commission and an NFA Member.

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About the author


John Walsh, President, Walsh Trading, Inc.

John began his career in the futures industry in 1986 at privately held firm, Barnes and Company. Barnes and Company was known for its presence at the Board of Trade, particularly in the agricultural sector. From Barnes, John held positions at the privately held firm, Argus and then at Continental Grain. During his time there, Continental Grain was one of the largest clearing firms in the world. Continental Grain had, and continues to maintain, extensive holdings in the cash cattle, poultry, swine, and agriculture industries. At Continental Grain, John had various responsibilities including working for the Options Group and the Risk Management Group where he serviced clients located all over the world.

 

In 1996, John left Continental Grain to found Walsh Trading, Inc., currently a registered Independent Introducing Broker (IIB) and an NFA member with the ability to clear at multiple, futures clearing merchants at the benefit of its clients. John’s focus at Walsh Trading has been on hiring and cultivating talented individuals and building relationships throughout the industry. Walsh Trading services some of the largest companies in the world, in their respective fields, as well as individual investors with a commitment to always putting the needs of its customers first.

 

John trades all markets, but concentrates his efforts in the agricultural sector, more specifically in the relationships revolving around the soybean crush. His trading methodology is based on fundamentals and a personally designed technical system.

 

Contact John
Phone: 312-208-8837 or 800-993-5449
Email: jwalsh@walshtrading.com

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